A year after the Foreign Investment Risk Review Modernization Act (FIRRMA) went into effect, dealmakers are feeling the impact on both control transactions and minority investments.
CFIUS expert Aimen Mir (Freshfields) and Deirdre McEvoy-Cappock (Siemens) report a rapid uptick in the number of reviews as the Committee's staffing levels increased in the past year and it’s remit widened to include equity, debt, or hybrid securities that could conceivable led the investor to gain access to sensitive assets.