On 1 February, Law 10/2023 converted Law Decree No. 187 of 5 December 2022 into law, thereby introducing: (a) general changes to Italy’s FDI screening framework, and (b) the possibility of temporary administration for companies in the oil refining sector.
On 6 February, the Commission published a decision finding that Hungary, by vetoing VIG’s acquisition of Aegon – a transaction with an ‘EU dimension’ within the meaning of the Merger Regulation – infringed the procedural rules in Art. 21 of the Merger Regulation and the freedom of establishment enshrined in Art. 49 of the TFEU. This is the first Commission decision to address the relationship between national FDI screening frameworks and EU merger control.
What do these developments mean for companies considered strategically important for Italy’s national interest?