Dutch Agency Reviews 44 Foreign Takeovers in First Year

A Dutch government agency, which screens foreign takeovers that may pose national security threats, completed 44 deal reviews in its first year. Minister Dirk Beljaarts stated that economic safety threats are increasing, and the agency plans to expand its scope to more sectors and technologies.

A Dutch government agency responsible for scrutinizing foreign takeovers that could jeopardize national security has completed 44 reviews in its inaugural year, as announced by the Economic Affairs Ministry.

Minister Dirk Beljaarts revealed on Wednesday that the dangers to the Netherlands' economic safety are mounting, prompting plans to broaden the jurisdiction of the Investment Review Office to encompass additional sectors and technologies.

'By protecting technologies and vital processes, the Netherlands will enhance its resilience and prosperity,' Beljaarts communicated in a letter to parliament. Established in 2023, the agency is empowered to halt, review, and recommend the approval, conditional approval, or blockage of foreign takeovers in sectors such as technology, energy, telecoms, and real estate. Out of the 44 deals assessed, 41 were approved without condition, one was retracted, one did not require vetting, and one was approved with conditions, according to the agency's annual report.

(With inputs from agencies.)