Investment Screening Act

In the framework of the 2023 Investment Screening Act, Switzerland is implementing approval obligations for takeovers of domestic companies by foreign state-controlled investors in certain critical sectors, notably, electricity transmission and production, telecoms and transport infrastructures.

The takeover of the following undertakings in the energy and technology sector is subject to the approval requirement:

• undertakings operating or owning the domestic electricity transmission network (i.e., Swissgrid) or distribution networks on network level 3 or below, if they output at least 450 gigawatt hours per annum (net value of purchases by end consumers or distributors);
• undertakings operating or owning domestic energy plants for the production of 100 megawatts or more or domestic telecommunication networks
• undertakings operating or owning domestic high-pressure natural gas mains in Switzerland.
• undertakings supplying domestic authorities with key safety-relevant IT systems or offering such IT services; 

Companies producing dual-use products may also be subjected to these investment screening obligations.

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