3 Unexpected Ways CFIUS Reviews Can Be Triggered
Partner Dan Anziska is quoted in a March 7 Law360 story titled, “3 Unexpected Ways CFIUS Reviews Can Be Triggered.” The Committee on Foreign Investment in the United States (“CFIUS”) reviews foreign investments in U.S. companies or operations and can intervene in the name of national security. The Law360 story explores the agency’s broad definition of control, naming three, sometimes surprising, areas of involvement including minority investments, board representation and industries light in tech. Anziska is quoted, saying, “Since control is not defined by the statute, some people have assumed that if it's just a foreign minority investment, like under 20 percent or under 15 percent, without the ability to control strategic decisions, that is not a covered transaction by CFIUS. There are risks in taking that position." Anziska also speaks to the agency’s involvement in industries beyond the tech space, specifically in industries like food, real estate and financial services. He is quoted, saying, “The fact that that has become such a focus has surprised some. I think looking at things like financial services, looking at things like food companies or food production — those subject matters in the past have surprised some folks about when they should be viewed as critical infrastructure."