On 24 June 2026, more than four years after the underlying events, Germany’s Federal Public Prosecutor General announced search measures in connection with a criminal investigation arising from the 2022 separation and attempted liquidation of the former German subsidiary of a major foreign state-linked energy group. What makes the case significant for FDI practitioners is straightforward: it is a forceful reminder that implementing a notifiable transaction without prior clearance is not merely a regulatory irregularity…
In Brief On 8 June 2026, the Council of the EU approved the European Parliament’s position adopted on 19 May 2026, clearing the path for a new Regulation on the screening of foreign investments in the Union (the “Screening Regulation 2026”). The Screening Regulation 2026 will repeal and replace Regulation (EU) 2019/452 (the “Former FDI Regulation”), marking a complete overhaul of the EU’s foreign investment control framework. The Screening Regulation 2026 seeks to balance security…
On 8 May 2025, the European Parliament adopted an amended proposal to revise the EU Foreign Direct Investment Regulation (Regulation (EU) 2019/452) (the “FDI Regulation”), amending the proposal originally published by the EU Commission and significantly deviating from it in certain important areas. The FDI Regulation revisions will bring into force significant changes to the foreign investment screening landscape across all Member States. It will be essential for investors to seek regulatory advice early in the planning stages of a transaction involving one or more EU Member States in order to formulate a robust FDI regulatory strategy.
Pursuant to the Foreign Trade and Payments Act (Außenwirtschaftsgesetz – AWG) and the Foreign Trade and Payments Ordinance (Außenwirtschaftsverordnung – AWV), investments into German entities may be subject to the review of the German foreign investment review laws framework. Investments into entities operating in specific, particularly sensitive, business areas, such as for example the operation of critical infrastructure, may be subject to a notification and clearance requirement. The legislative act specifying what qualifies as critical…
To highlight recent developments in foreign direct investment restrictions in Germany, Baker McKenzie has published a podcast setting out what businesses should be aware of, and what the German regulator will look for. Produced in partnership with Concurrences, our foreign investment experts Samantha Mobley and Anahita Thoms discuss these developments with Angelika Milger, a member of the Investment Screening team at the German Federal Ministry of Economic Affairs. This is the first in a series…
The German Government has further strengthened its FIR regime on 30 April 2021. This amendment is – for now – the last part of a series of three significant amendments, each further strengthening the German FIR regime and adapting it to the EU Framework Screening Regulation. Three modifications are especially notable as they will be highly relevant in practice: Firstly, the amendment drastically extends the scope of transactions that are subject to mandatory notification requirements.…