On 4 May 2023, Royal Excelsior Virton, a professional football club in Belgium’s second division, announced that it lodged a complaint against competing club SK Lommel with the European Commission under the new Regulation 2022/2560 on foreign subsidies distorting the internal market (“FSR”). This appears to be the first time the Commission is publicly asked to initiate an ex officio investigation under the FSR.
On 28 November 2022, the EU institutions formally adopted a Regulation on foreign subsidies distorting the internal market. The new rules will have a major impact on M&A transactions and will significantly increase the administrative burden facing many EU and non-EU companies doing business in Europe. The Regulation is part of a broader effort to protect the EU’s geopolitical “open strategic autonomy”. It aims to level the playing field by allowing the European Commission to intervene where foreign subsidies granted directly or indirectly by third countries threaten to distort the EU internal market.
Baker McKenzie’s Sanctions Blog published the alert titled European Union: Amended temporary state aid crisis framework (Ukraine) regarding renewable energy and decarbonization on 2 August 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
On 21 September 2022, colleagues from the German Baker McKenzie offices will host a webinar exploring current developments in German and European Antitrust Law. The event will be in German only.
The European Recovery Plan will pump EUR 750 billion into the economy in the relative short term, with nearly half earmarked for climate change and digital investment. This funding will support the transformation to greener, more digital, sustainable and resilient economies, and businesses active across the EU will be able to benefit.
Baker McKenzie’s Sanctions Blog published the alert titled European Union: Temporary State Aid Crisis Framework (Ukraine): Member States can support businesses — up to EUR 50 million for energy-intensive businesses on 30 March 2022. Read the article via the link here. Please also visit our Sanctions Blog for the most recent updates.
A helicopter view of each stage of the healthcare & life sciences supply chain lifecycle and an overview of the trends that businesses in the sector should consider in 2021 and beyond, including sustainability, digitalization and increased public funding.
On 13 July 2021, the EU Council of Ministers approved the national recovery and resilience plans (RRPs) of 12 Member States. This means that Austria, Belgium, Denmark, France, Germany, Greece, Italy, Latvia, Luxembourg, Portugal, Slovakia and Spain are now able to tap into the EU recovery and resilience funding. This will allow them to start spending the money on projects and reforms for national economic recovery and resilience, as well as the green transition and digital transformation.
On 13 July 2021, the EU Council of Ministers approved the national recovery and resilience plans (RRPs) of 12 Member States. These Member States are now able to tap into the EU recovery and resilience funding. This will allow them to start spending the money on projects and reforms for national economic recovery and resilience, as well as the green transition and digital transformation.
On 5 May 2021, the European Commission (“Commission”) published a proposed Regulation, along with an impact assessment report, aiming to address potential distortions caused by foreign subsidies in the Single Market (“Proposed Regulation”). This Proposed Regulation will create substantial new obligations for companies if adopted in its current form.