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.

Already registered? Login here.

 

This website is operated by Hogan Lovells Solutions Limited, whose registered office is at 21 Holborn Viaduct, London, United Kingdom, EC1A 2DY. Hogan Lovells Solutions Limited is a wholly-owned subsidiary of Hogan Lovells International LLP but is not itself a law firm. For further details of Hogan Lovells Solutions Limited 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.