The 17th Amendment of the Foreign Trade and Payments Ordinance (Außenwirtschaftsverordnung, AWV) came into force on 1 May 2021. It forms part of a series of measures, including the Amendments of the Foreign Trade and Payments Act (Außenwirtschaftsgesetz, AWG) as well as the 15th and 16th Amendments of the AWV, aimed at tightening rules on foreign direct investment. As a result, more investment projects may be subject to the reporting obligation, leading to a potential increase in restrictions for or prohibitions of acquisitions. In our first briefing, we summarised the expansion of case groups that may be subject to cross-sectoral examination. This second part of our three-part briefing series on foreign direct investment deals with the increased thresholds relevant for the cross-sectoral review of corporate acquisitions. In addition, this briefing summarises the changes to the sector-specific examination, according to which the entire defence sector (all goods listed in Part I Section A of the Export List) is now subject to the investment control regime.

read more

BLOMSTEIN has advised the 3D Systems Corporation (3D Systems) on the German foreign direct investment aspects of the indirect acquisition of 100% of the shares of the German 3D-printing software company Additive Works GmbH.

read more

The 17th Amendment of the Foreign Trade and Payments Ordinance (Außenwirtschaftsverordnung, AWV) has recently come into force and forms part of a series of measures, including the Amendments to the Foreign Trade and Payments Act (Außenwirtschaftsgesetz, AWG) as well as the 15th and 16th Amendments of the AWV, aimed at tightening rules on foreign direct investment.

read more

BLOMSTEIN advised OMR on public procurement law questions regarding the establishment and operation of Germany’s biggest vaccination centre located in Hamburg.

read more

The new Lexology Getting the Deal Through: Sanctions guide for 2021 has just been published, enabling side-by-side comparison of local insights into economic, financial and trade sanctions including national and international regimes across different jurisdictions. Roland M. Stein and Laura Louca have contributed the chapter on the European Union sanctions regime.

read more

BLOMSTEIN has advised Albion Acquisitions Limited on the German foreign direct investments (FDI) aspects of its recommended cash acquisition of the entire issued, and to be issued, ordinary share capital of Aggreko plc. Albion is a newly formed company, owned by funds managed by I Squared Capital Advisors (US) LLC and investment funds managed by TDR Capital LLP. The acquisition values Aggreko plc’s entire issued, and to be issued, ordinary share capital at approximately £2,322 million on a fully diluted basis.

read more

BLOMSTEIN advises Qell Acquisition Corp. (Qell) on a billion-dollar merger with the Munich air taxi manufacturer Lilium.

read more

The new Lexology GTDT: Foreign investment review 2021 has just been published: Roland M. Stein and Leonard von Rummel have contributed the chapter on the German FDI regime.

read more

BLOMSTEIN has successfully handled two Foreign Direct Investment procedures for GTCR, a leading private equity firm. GTCR has acquired the assets of the TachoSil Fibrin Sealant Patch, a sponge for hemostasis and wound sealing, and the Surgical Specialties Corporation (SSC), which is specialized in high performance surgical sutures and ophthalmic knives. Subsequently, the investor merged SSC and Tachosil into a leading provider of surgical medical products and created the new company Corza Medical.

read more

In the past, investment control law has been continuously tightened (see the Amendments to the Foreign Trade an Payments Act (AWG-Novelle) as well as the 15th and 16th Amendment Ordinance of the AWV. The draft of the 17th Amendment Ordinance to the AWV has been eagerly awaited, as publication has been repeatedly postponed due to the intensive and lengthy process of interdepartmental coordination.

read more