Investitionskontrolle in Deutschland

Investment control has become one of the "hot topics" in M&A in recent years. Using the example of foreign sovereign wealth funds, the German foreign investment control regulations as well as further possibilities under German foreign trade law to control foreign investment are illustrated. In addition, the Union competence for foreign direct investments and the ECJ case law on the freedom of capital and the freedom of establishment are analyzed and it is argued why the existing German investment control is not compatible with EU law. The author is a lawyer in the area of corporate/M&A with a focus on investment control and has substantial practical experience in foreign investment control proceedings.