Among its tangible achievements in the UK are the second Severn crossing and some of the UK’s big motorway projects.
In recent times, as public-private partnerships have found less favour in Whitehall, Laing has taken its engineering and project management skills overseas, working on projects in Australia and North America.
With the Biden Administration aiming for a big upgrade of US infrastructure from bridges to airports and railways, the opportunities for John Laing skills could be considerable.
The overseas earnings capacity for the UK, as it looks to put its expertise to work globally, looks considerable.
KKR’s infrastructure arm says nothing will change after the deal and the company founded in Carlisle in 1848 will remain rooted in Britain.
Thursday, May 20, 2021
Takeaways
The new law takes effect in later in 2021, but UK Government may look back at deals from November 2020 onward.
The Act is considered one of the most far-reaching systems in the world, carrying civil and criminal penalties for a failure to notify.
A notifiable acquisition completed without the approval of the Secretary of State is void (of no legal effect).
The UK Government has stated that it will work closely with investors to help ease the market into the new framework of investment rules.
In the broader context of governments all over the world scrutinizing foreign direct investments (“FDI”), the Act is meant to legislatively reform the UK national framework of transaction review, give the UK Government more power to investigate, and strengthen its control over FDIs that may implicate national security issues.
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On 29 April 2021, the UK s National Security and Investment Bill (NSI Bill) gained Royal Assent. The NSI Bill, dubbed by some as CFIUK – a nod to the United States Committee on Foreign Investments (CFIUS) – has now become law as the National Security and Investment Act 2021 (the NSI Act). Widely seen as the biggest shake up of the UK s investment screening regime in 20 years, the NSI Act will modernise the UK Government s powers to investigate and intervene in potentially hostile foreign direct investment, while at the same time advancing the UK s world-leading reputation as an attractive place to invest post-Brexit. Whilst the new regime will not commence until later this year, the UK Government will have retroactive enforcement powers in respect of transactions that have taken place following the introduction of the NSI Bill in November 2020. What does this new law entail, and how will it affect M&A transactions goi
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Summary
The UK s long-awaited National Security and Investment Act
passed into law on 29 April 2021 when it received Royal Assent.
Secondary legislation will follow and the regime is expected to be
fully in force towards the end of the year. Here is what you need
to know.
The National Security and Investment Act 2021:
The UK s long-awaited National Security and Investment Act
passed into law on 29 April 2021 when it received Royal Assent.
Secondary legislation will follow and the regime is expected to be
fully in force towards the end of the year. Although the Act is not
Summary
The UK’s long-awaited National Security and Investment Act passed into law on 29 April 2021 when it received Royal Assent. Secondary legislation will follow and the regime is expected to be fully in force towards the end of the year. Here is what you need to know…
The National Security and Investment Act 2021:
The UK’s long-awaited National Security and Investment Act passed into law on 29 April 2021 when it received Royal Assent. Secondary legislation will follow and the regime is expected to be fully in force towards the end of the year. Although the Act is not live yet, investors should already be considering its possible impacts on deals because of the retrospective effect of the legislation, the Secretary of State’s broad powers under it to “call-in” non-notified transactions for review, and the sanctions for non-compliance (for more detail on this, see our earlier blog post UK National Security & Investment Bill introduces mandatory Government review of