{"id":43878,"date":"2020-11-27T00:20:31","date_gmt":"2020-11-26T22:20:31","guid":{"rendered":"https:\/\/newserver.fyb.de\/produkt\/tightening-of-investment-control-new-challenges-for-ma-practice\/"},"modified":"2020-11-27T00:20:31","modified_gmt":"2020-11-26T22:20:31","slug":"tightening-investment-control-new-challenges-for-ma-practice","status":"publish","type":"product","link":"https:\/\/www.fyb.de\/en\/produkt\/tightening-investment-control-new-challenges-for-ma-practice\/","title":{"rendered":"Tightening of investment control: new challenges for M&amp;A practice"},"content":{"rendered":"<p><strong>Dr. Tim Kauf\u00adhold<\/strong> \u2014 Part\u00adner and Attor\u00adney at Law at P+P P \u00f6llath + Part\u00adners, Munich<\/p>\n<p><strong>Daniel Wied\u00admann, LL.M.<\/strong>  \u2014 Asso\u00adcia\u00adted Part\u00adner and Attor\u00adney at Law at P+P P \u00f6llath + Part\u00adners, Frankfurt\/Main<\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong>This year\u2019s tigh\u00adtening of invest\u00adment audits under the Foreign Trade and Payments Act (AWG) and the Foreign Trade and Payments Ordi\u00adnance (AWV) pose new chal\u00adlenges for M&amp;A prac\u00adtice. In parti\u00adcu\u00adlar, the scope of appli\u00adca\u00adtion was expan\u00added, a prohi\u00adbi\u00adtion of enforce\u00adment for repor\u00adta\u00adble share\u00adhol\u00addings was intro\u00addu\u00adced, and prohi\u00adbi\u00adti\u00adons were faci\u00adli\u00adta\u00adted. The impli\u00adca\u00adti\u00adons are far-reaching and affect even tran\u00adsac\u00adtions that at first glance appear problem-free. In addi\u00adtion, the fede\u00adral govern\u00adment is curr\u00adently alre\u00adady discus\u00adsing  <\/strong><strong>about further tightening.<\/strong><\/p>\n<p><strong>Scope of appli\u00adca\u00adtion of invest\u00adment control<\/strong><\/p>\n<p>Invest\u00adment control covers direct and indi\u00adrect invest\u00adments in German compa\u00adnies by acqui\u00adrers from outside the EU or EFTA (so-called non-EU parties). If the target company is active in an area that fulfills a cata\u00adlog criter\u00adion, the scope of appli\u00adca\u00adtion is alre\u00adady opened at an acqui\u00adsi\u00adtion of 10% of the voting rights.<\/p>\n","protected":false},"featured_media":35506,"comment_status":"closed","ping_status":"closed","template":"","meta":{"wp_typography_post_enhancements_disabled":false},"product_brand":[],"product_cat":[2452,2469,2492,2494],"product_tag":[1543,1563,1570,1573,1579,1583,1592,1597],"class_list":{"0":"post-43878","1":"product","2":"type-product","3":"status-publish","4":"has-post-thumbnail","6":"product_cat-ebook-en","7":"product_cat-fyb-2021","8":"product_cat-dr-tim-kaufhold-en","9":"product_cat-daniel-wiedmann-l-l-m-en","10":"product_tag-foreign-trade-and-payments-ordinance-awv","11":"product_tag-dr-tim-kaufhold-en","12":"product_tag-daniel-wiedmann-en","13":"product_tag-investment-control","14":"product_tag-corporate-investments","15":"product_tag-investment-review","16":"product_tag-foreign-trade-and-payments-act-awg","17":"product_tag-ma-practice","18":"pa_ausgabe-deutsch-en","19":"pa_ausgabe-englisch-en","21":"first","22":"instock","23":"taxable","24":"shipping-taxable","25":"purchasable","26":"product-type-variable"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tightening of investment control: new challenges for M&amp;A practice - FYB Financial Yearbook<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fyb.de\/en\/produkt\/tightening-investment-control-new-challenges-for-ma-practice\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tightening of investment control: new challenges for M&amp;A practice - FYB Financial Yearbook\" \/>\n<meta property=\"og:description\" content=\"This year&#039;s tightening of investment audits under the Foreign Trade and Payments Act (AWG) and the Foreign Trade and Payments Ordinance (AWV) pose new challenges for M&amp;A practice. In particular, the scope of application was expanded, a prohibition of enforcement for reportable shareholdings was introduced, and prohibitions were facilitated. The implications are far-reaching and affect even transactions that at first glance appear problem-free. In addition, the federal government is currently already discussing about further tightening.Scope of application of investment controlInvestment control covers direct and indirect investments in German companies by acquirers from outside the EU or EFTA (so-called non-EU parties). If the target company is active in an area that fulfills a catalog criterion, the scope of application is already opened at an acquisition of 10% of the voting rights.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.fyb.de\/en\/produkt\/tightening-investment-control-new-challenges-for-ma-practice\/\" \/>\n<meta property=\"og:site_name\" content=\"FYB Financial Yearbook\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/10\/kaufhold-wiedmann.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"414\" \/>\n\t<meta property=\"og:image:height\" content=\"454\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.fyb.de\/en\/produkt\/tightening-investment-control-new-challenges-for-ma-practice\/\",\"url\":\"https:\/\/www.fyb.de\/en\/produkt\/tightening-investment-control-new-challenges-for-ma-practice\/\",\"name\":\"Tightening of investment control: new challenges for M&amp;A practice - FYB Financial Yearbook\",\"isPartOf\":{\"@id\":\"https:\/\/www.fyb.de\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.fyb.de\/en\/produkt\/tightening-investment-control-new-challenges-for-ma-practice\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.fyb.de\/en\/produkt\/tightening-investment-control-new-challenges-for-ma-practice\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/10\/kaufhold-wiedmann.jpg\",\"datePublished\":\"2020-11-26T22:20:31+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.fyb.de\/en\/produkt\/tightening-investment-control-new-challenges-for-ma-practice\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.fyb.de\/en\/produkt\/tightening-investment-control-new-challenges-for-ma-practice\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fyb.de\/en\/produkt\/tightening-investment-control-new-challenges-for-ma-practice\/#primaryimage\",\"url\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/10\/kaufhold-wiedmann.jpg\",\"contentUrl\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/10\/kaufhold-wiedmann.jpg\",\"width\":414,\"height\":454},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.fyb.de\/en\/produkt\/tightening-investment-control-new-challenges-for-ma-practice\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.fyb.de\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FYB Shop\",\"item\":\"https:\/\/www.fyb.de\/en\/shop\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Tightening of investment control: new challenges for M&amp;A practice\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.fyb.de\/en\/#website\",\"url\":\"https:\/\/www.fyb.de\/en\/\",\"name\":\"FYB Financial Yearbook\",\"description\":\"For Your Business\",\"publisher\":{\"@id\":\"https:\/\/www.fyb.de\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.fyb.de\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.fyb.de\/en\/#organization\",\"name\":\"FYB Financial Yearbook\",\"url\":\"https:\/\/www.fyb.de\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.fyb.de\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/06\/logo.svg\",\"contentUrl\":\"https:\/\/www.fyb.de\/wp-content\/uploads\/2020\/06\/logo.svg\",\"caption\":\"FYB Financial Yearbook\"},\"image\":{\"@id\":\"https:\/\/www.fyb.de\/en\/#\/schema\/logo\/image\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tightening of investment control: new challenges for M&amp;A practice - FYB Financial Yearbook","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.fyb.de\/en\/produkt\/tightening-investment-control-new-challenges-for-ma-practice\/","og_locale":"en_US","og_type":"article","og_title":"Tightening of investment control: new challenges for M&amp;A practice - FYB Financial Yearbook","og_description":"This year's tightening of investment audits under the Foreign Trade and Payments Act (AWG) and the Foreign Trade and Payments Ordinance (AWV) pose new challenges for M&amp;A practice. 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