Stricter Control of Foreign Investors’ Investments by way of the Thirteenth Act to the Amendment of the Foreign Trade Act and the Foreign Trades Ordinance
9 June 2009
Mayer Brown Legal Update
By way of the Amendment of the Foreign Trade Act (Außenwirtschaftsgesetz, “AWG”) and the Foreign Trade Ordinance (Außenwirtschaftsverordnung, “AWV”), which came into force on April 24, 2009, the Federal Ministry for Economics and Technology (Bundesministerium für Wirtschaft und Technologie, “BMWi“) is authorized to prohibit, on a case by case basis, the acquisition of shares of German companies by purchasers from countries outside the European Community. Neither the seller nor the purchaser have an obligation for disclosure with regards to the transaction.