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thechronicleherald.ca: France to tighten controls on non-EU foreign investment

thechronicleherald.ca: France to tighten controls on non-EU foreign investment

Eiffel tower during nighttime
Currently non-European investments in French companies do not need government approval as long as the stake is 25% or less.
PARIS (Reuters) - The French government will tighten restrictions on foreign investments from outside Europe in French companies to limit foreign control over strategic sectors and technologies, the finance minister said on Wednesday.
The government already at the start of the year tightened controls on non-European foreign investments, in particular by lowering the threshold for state-vetting to 25% from 33% previously.
Le Maire also said that he would add biotechnology companies to a list of sectors that requires government approval for an investment from outside Europe to go ahead.

"In this period of crisis, some companies are vulnerable, some technologies are fragile and could be bought by foreign competitors at a low cost. I won't let it happen," Le Maire told LCI television.

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