Area 06 · Advice and representation
Golden Power & FDI screening
in Italy
Legal advice for investors, Italian target companies and international counsel on foreign direct investment screening in Italy. From the initial Golden Power assessment and preparation of the notification dossier to the review procedure, conditions and disputes.
International investment
From the investment decision to implementation
For an investor entering Italy, foreign direct investment screening (FDI screening) is part of preparing the transaction. The firm assists investors, Italian target companies and transaction advisers with Golden Power assessment and its coordination with the business plan and transaction agreements.
Before signing
Review of the target’s activities, relevant assets, ownership structure and the rights to be acquired. Assessment of the applicable scope and any pre-notification or notification issues, with attention to data, technology and infrastructure.
From signing to closing
Coordination of the regulatory assessment, contractual conditions and transaction timetable. Preparation of documentation and assistance during the review, including requests for further information and engagement with the competent authorities.
After the decision
Review of any conditions and their effects on governance, access to information and operational integration. Support with implementing commitments and assessing available remedies.
The assessment is transaction-specific: the sector, assets, investor, acquired rights and transaction structure are considered together. Meetings can take place by video call, alongside the corporate and technical advisers involved.
The transaction dossier
Make the transaction clear before filing.
A coherent account of the investor, the assets and the proposed transaction is the starting point. Our reading guide connects the documents with the questions they need to answer.
- Ownership, control and the rights to be acquired.
- Strategic assets, technology, data and operational dependencies.
- Transaction documents, funding and the proposed timetable.
Working with international counsel
Italian regulatory advice.
A coordinated approach.
Studio Legale Tuzza assists investors, Italian target companies and advisers with the Italian Golden Power aspects of an investment. The legal work can be coordinated with the lawyers handling the transaction and the business teams responsible for technology, operations and governance.
An engagement can cover a preliminary assessment, preparation of the notification dossier, assistance during the review and implementation of conditions. The scope and working arrangements are agreed for each matter, with meetings in person or by video call.
Discuss the Italian aspects of a transactionHow we assist
Administrative procedures and decisions
Advice on authorisations, concessions, regulatory acts, inspections and decisions affecting businesses and public bodies. Assistance with access to documents, participation in procedures, applications and submissions, and assessment of administrative review options. Reconstructing the facts, powers and reasons for a decision guides the chosen approach.
Regulated markets and public-sector organisation
Analysis of sector-specific rules and relationships between authorities, operators and publicly owned companies. Assessment of governance arrangements, service obligations and responsibilities arising from public decisions. Support in coordinating authorisation, contractual and organisational issues that may affect a project or business transformation.
Golden Power: structuring the transaction
Preliminary assessment of assets, the investor and the transaction against the scope of Italy’s special powers. Analysis of notification and pre-notification issues and their implications for due diligence, contractual conditions, governance and investment timing. Regulatory considerations are addressed while the transaction can still be structured and adjusted.
Review, decisions and imposed conditions
Assistance in preparing documentation, engaging in the procedure and responding to requests for information, in coordination with the relevant business functions. Analysis of the decision and any conditions affecting data, technology, infrastructure and organisation. Support in implementing and documenting commitments and assessing available legal remedies.
Research and institutional dialogue
Economic security and business decisions
Prof. Angelo Tuzza is a member of the Scientific Council of the ICSA Foundation – Intelligence Culture and Strategic Analysis.
Research at the Foundation into the legal framework for national security and cybersecurity informs discussion of the relationship between public powers, businesses and strategic interests. This research is integrated with the firm’s legal work on transaction assessment, data and critical-infrastructure protection and the management of conditions affecting governance and business continuity.
Illustrative example
Investment in a company with strategic technology
A group considers acquiring an interest in an Italian company handling relevant technology and data. Assistance may begin by identifying the assets and the rights granted to the investor, to assess applicable obligations and their contractual effects. System access, information transfers, the composition of governing bodies and operational integration are considered alongside conditions that could accompany the transaction.
A hypothetical situation illustrating the work undertaken. It does not describe a particular client engagement.
Tools and services
Opinions on the regulatory scope; assessment of notification obligations; support with transaction documentation and clauses; submissions and responses to information requests; implementation plans for prescribed conditions; litigation.
Contact
An initial conversation.
A clear direction.
For an initial assessment of your matter and the assistance available, contact the firm’s office to arrange a confidential meeting, in person or by video call.
Email the firm
segreteria@studiotuzza.itTelephone
+39 06 5922543Office hours
Monday–Friday · 09:00–19:00