Amendment to Investment Control — New Challenges for M&A Practice

The 17th Ordi­nance Amen­ding the Foreign Trade and Payments Ordi­nance (17th AWV Amend­ment) ente­red into force on May 1. This has signi­fi­cant impli­ca­ti­ons for M&A prac­tice: A signi­fi­cant expan­sion of the sectors subject to report­ing requi­re­ments, thres­holds for report­ing requi­re­ments when incre­asing exis­ting share­hol­dings, clari­fi­ca­tion of report­ing requi­re­ments in the case of inter­nal restruc­tu­rings, audit opti­ons of the BMWi in the case of “atypi­cal control acquisitions”.