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25 April 2023

Member States Access on Blocking Foreign Investments

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In February 2022 the Budapest High Court requested an opinion from the Court of Justice of the European Union (the “Court”) on a case relating to an acquisition of a Hungarian entity active within the sector of extraction of construction aggregates (case C-106/22 – Xella Magyarország).  

The Advocate General has on 30 March 2023 submitted its proposal for a decision to the Court. The opinion of the Advocate General is not binding to the Court and a final decision by the Court has not yet been made. 

The specific question that the Budapest High Court wanted the Court to guide upon was, whether the EU regulation prevents the Hungarian FDI regime in blocking a foreign investment made by an EU/EFTA entity having an ultimate owner located outside the EU/EFTA.  

Pernille Nørkær


+45 30 37 96 40

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Jeanette Kjeldgaard Rasmussen

Senior Associate

+45 30 37 96 44

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