U.K. Revises Foreign Takeover Bill to Reduce Burden on Companies
- Foreign buyers of 25% of a British asset must notify ministers
- Notification threshold had been 15% in original legislation
A statue of a Lion stands on Westminster Bridge in the view of the Houses of Parliament in London.
Photographer: Chris J. Ratcliffe/BloombergThis article is for subscribers only.
The U.K. plans to amend the proposed National Security and Investment law to ease the burden on foreign companies seeking to buy stakes in British assets, amid fears more onerous legislation might deter investors.
Under a proposed government amendment, prospective overseas buyers of U.K. assets must notify the government if they’re seeking a stake of 25% of more, compared with 15% in the existing draft bill. It will be discussed when the legislation returns to the House of Lords for its report stage, starting April 15.