Golden power and more, how to direct foreign investments in Italy (after the Verisem case)
From the applicable legislation to any legal risks and related procedures in the Italian market. Here is the guide to foreign investments from the International Comparative Legal Guide-ICLG
Just a few days ago the news of the decision by the Italian government to block the sale of Verisem , a Romagna vegetable seed company, to Syngenta, the first global agrochemical group owned by the Chinese of Sinochem .
If confirmed, it would be the first time that Italy has vetoed an acquisition in the agri-food sector.
To help investors and professionals to orient themselves in the Italian market and beyond, the Foreign Direct Investment Regimes 2022 section has just been published by the International Comparative Legal Guide (ICLG), the guide published by the English group GLG- Global Legal Group. which monitors 58 practice areas (from data protection to fintech, from private equity to real estate) in 192 jurisdictions.
This is an English-language guide, both online and in print, to inform and raise awareness of investors who want to know the applicable legislation, any legal risks and related procedures in the first instance before entering a particular market.
The section referring to Italy was handled by the lawyers Riccardo Gotti Tedeschi and Gennaro d'Andria of the DANDRIA 3D Legal Firm.
Specifically, the section dedicated to the discipline of foreign investments in Italy intends to provide essential information and some considerations on current practice, according to the style of a questionnaire and focusing on the discipline of the so-called Golden Power. The latter, as known, concerns the special powers (including the power of veto and the power to place conditions on the purchase of shareholdings) that the Italian Government can exercise in key sectors such as defense, national security, energy, transport and communications to protection of the cd. national interest.
As is known, the recent Liquidity Decree of April 2020 and the new implementing decrees have further broadened the scope of application of Golden Power (provisionally in constant emergency), including critical infrastructures and technologies, as well as economic activities of strategic importance in the energy sectors, water, health, access and control of sensitive data and information, in the financial sector including credit and insurance, financial market infrastructures, artificial intelligence, robotics, semiconductors, cybersecurity, nanotechnology and biotechnology, of non-military aerospace infrastructures and technologies, in the supply of production factors (also in the steel industry) and agri-food, in dual-use products and, finally, in the freedom and pluralism of the media.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/golden-power-e-non-solo-come-orientare-gli-investimenti-stranieri-in-italia/ on Sat, 13 Nov 2021 07:30:37 +0000.