The new measures, which entered into force on 1 January 2024, comprise two texts: the decree No 2023-1293, which provides most of the new measures, in particular those amending the scope of FDI screenings regime, and the order dated 28 December 2023, which addresses certain issues related to the new 10% voting rights threshold (the “Bill”).
Under the current French FDI screening regime, EU and non-EU foreign investors must obtain an authorisation from the government, or notify it, when they (a) acquire control, (b) acquire all or part of a business in France, or (c) obtain more than a specific threshold of voting rights in a French legal entity (or in a branch of a foreign entity that is located in France) that (d) carries out activities in a sensitive sector.
Extension of the scope of sensitive sectors
The French FDI screening regime applies to investment in sectors…
