ANNOUNCED AS TEMPORARYNo
FDI: Entry and ownership rule
On January 22, 2016 the Dutch firm Royal Philips announced that Philips and GO Scale Capital terminated an agreement under which the latter firm would acquire an 80.1% interest in Lumileds, a unit that produces LED lights. 'Despite the extensive efforts of Philips and GO Scale Capital to mitigate the concerns of the Committee on Foreign Investment in the United States (CFIUS),' the company said, 'regulatory clearance has not been granted for this particular transaction.' The CFIUS is an inter-agency committee authorized to review transactions that could result in control of a U.S. business by a foreign person in order to determine the effect of such transactions on the national security of the United States. In this case the committee had concerns over the national security implications over the transfer of this unit to a Chinese firm.
⚑ Please report this page in case you detect an inaccuracy in its content.