Global Investment Review
Regulatory authorities—spurred on by polarized foreign policies and opposing geopolitical interests—are increasingly intervening in global commerce, including in national security-related scrutiny of foreign investment, presenting new challenges for enterprises dependent on access to key resources from different countries.
The growing focus on national security in many parts of the world is driving nationalization and localization of access to technology, capital, data and other key sectors including energy and natural resources—disrupting global supply chains and jeopardizing international investments and acquisitions. A now-common feature of investment review procedures is a government’s ability to call in deals for review, with the potential to undo transactions.
Our dedicated team is experienced in all aspects of:
- International investment review.
- National security analysis, including defense and government procurement, security classification and information access.
- Trade and technology controls such as dual use and military export control and licensing regimes and regulators in various jurisdictions.
- The application of corporate governance and control in highly regulated sectors and in other regulatory regimes.
Leveraging diverse and complementary skills, we represent clients from the inception stage and throughout a transaction, integrating investment and national security considerations into the broader merger control and regulatory strategy and timeline. Our lawyers work with a wide range of clients, from sovereign wealth funds and state-owned enterprises, to private equity and hedge funds. In the United States (U.S.), our practitioners guide clients through the Committee on Foreign Investment in the United States (CFIUS) process, while the firm’s London, Dubai, and Frankfurt based lawyers assist in matters related to the impending United Kingdome (U.K.) National Security & Investment (NSI) Bill, as well as the German regime under the Foreign Trade Decree (“Aussenwirtschaftsverordnung”). A number of the key tests under the NSI Bill derive from the U.K. People with Significant Control (PSC) regime. We have substantive experience in the PSC regime and comparative regimes in most other jurisdictions, which will also need consideration in any cross-border transaction.
