France gets tough on reviewing foreign direct investments screening

Last month the French Minister of Armed Forces formally blocked, for the first time ever, a foreign investment by a U.S. company. In addition the French Minister of Economy and Finance announced a one year extension to interim rules on foreign investment introduced in response to COVID-19 that were due to expire on 31 December 2020 and recently expressed his intention to use investment control powers to block the proposed takeover of Carrefour SA by a Canadian company. These developments reflect a broader push by France to strengthen the enforcement of its investment screening regime. Foreign investors looking to invest in French target companies or assets are advised to consider early on whether they may be subject to notification obligations and/or exposed to government review under the French screening regime.

Do you like what you are reading?

Please log-in or register to access Engage and set your preferences

New to Engage?

Create a free account for access to this publication and our vast catalogue of legal updates

Already Registered?

Log-in to continue reading



This website is operated by Hogan Lovells International LLP, whose registered office is at Atlantic House, Holborn Viaduct, London, EC1A 2FG. For further details of Hogan Lovells International LLP and the international legal practice that comprises Hogan Lovells International LLP, Hogan Lovells US LLP and their affiliated businesses ("Hogan Lovells"), please see our Legal Notices page. © 2022 Hogan Lovells.

Attorney advertising. Prior results do not guarantee a similar outcome.