The Slovak foreign direct investment (FDI) screening regime has been in force since 1 March 2023. It covers transactions subject to mandatory screening (critical investments, based on the sensitivity of the Slovak target's activities) as well as voluntary screening (non-critical investments). In the case of mandatory screening, a standstill obligation applies, and FDI clearance must be obtained before closing.

Bernitsas has advised CVC on the merger-control process before the Hellenic Competition Commission for the sale of Ethniki Hellenic General Insurance to Piraeus Bank.

Nedelka Kubac Advokati has advised the shareholders of Pemic Group on the competition law aspects of the company’s sale to Euromedia Group. Cerha Hempel reportedly advised Pemic Group as well.

Following the adoption of the general framework of the FDI screening in March 2024, the regime was originally expected to become operational in Bulgaria no later than September 2024. This timeline was contingent on the adoption of the necessary secondary legislation, including the amended Rules on the Application of the Investment Promotion Act (the “FDI Screening Act”) as well as the Rules on the Organization and Functioning of the Interdepartmental Council on FDI Screening.

As a follow-up to the piece I previously published on CEELM – FDI Is 4.52x Cooler Than Merger Control – Romania’s latest guidelines on investments’ screening brings important clarifications to an already far-reaching regime.

The end of July brings much-anticipated news, as the FDI Guidelines were published on 30 July and have now entered into force. We previously examined the draft Guidelines proposed by the authority back in February (see here) and are now analysing the changes introduced by lawmakers in the final version that are particularly relevant for practitioners.