· Insight

Effects of the tightened investment control on private equity deals

Original: “Auswirkungen der verschärften Investitionskontrolle auf Private Equity Deals”

Private equity investors have to keep an eye on various notification obligations both when acquiring and selling portfolio companies. In the context of a planned transaction, not only the antitrust take-up thresholds, but increasingly also the restrictions of the Foreign Trade and Payments Act (AWG) and the Foreign Trade and Payments Ordinance (AWV) must be reviewed. This so-called investment control procedure, which is intended to give states greater control over the sell-off of their critical infrastructure and indigenous technology companies, has been the subject of ongoing European and national reform efforts since its introduction and was most recently significantly tightened by the 17th amendment to the AWV. 

in: JUVE Handbuch Wirtschaftskanzleien 2022/2023, October 2022, 783-784
Authors: Tobias Jäger, Andrea Streifeneder