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5 August 2020

The Effects of the Invalidation of the EU-U.S. Privacy Shield Framework on ongoing M&A Transactions

16 July 2020, the European Court of Justice declared the EU-U.S. Privacy Shield framework invalid in the Schrems II decision. This means that companies that have been using the Privacy Shield framework as the legal basis for the transfer of personal data from the EU to the US until now must as soon as possible find another legal basis for making such transfers in compliance with the General Data Protection Regulation (“GDPR”). The decision will impact ongoing M&A transactions as companies may have followed certain practice and declared compliance in good faith, which has now been found to be incorrect. Some of the issues to which the decision has given rise from an M&A perspective are explained below.

Pernille Nørkær

Partner

+45 30 37 96 40

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Tobias Bonde Frost

Partner

+45 30 37 96 28

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Sarah Veje Rasmussen

Senior Associate

+45 30 37 96 62

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