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Our attorneys have extensive experience representing clients before the Committee on Foreign Investment in the United States (CFIUS) with respect to national security reviews of their M&A, PE/VC/CVC, joint venture, and real estate deals. U.S. as well as foreign companies and investors regularly seek our user-friendly guidance on navigating complex CFIUS laws and regulations, including the Foreign Investment Risk Review Modernization Act (FIRRMA) and its implementing rules.

We have evaluated hundreds of transactions to determine whether they trigger CFIUS filing requirements. In addition, we advise parties on CFIUS exemptions as well as effective strategies to mitigate their CFIUS risk if necessary. We have handled CFIUS matters for buy-side/investor clients domiciled in China, Japan, Korea, Europe, Australia, Latin America, and the Middle East. Our CFIUS experience covers the aerospace/defense, autonomous vehicles, semiconductors, technology (AI, software, social media, and big data), energy, mining, biotech/life sciences, and other sectors.

Rimon’s CFIUS practice stands out from its peers because not only are our attorneys well-versed in the intricacies of complex CFIUS regulations, many of them are also seasoned corporate practitioners who understand how deals work. This dual perspective enables us to be effective advocates of our clients’ interests in front of CFIUS and its member agencies. In addition, we have the resources necessary to guide our clients on national security reviews conducted by government agencies outside the United States, including in the United Kingdom, Canada, and Australia.

Selected CFIUS Experience

Our attorneys have handled the following CFIUS matters:

  • Successfully filed a voluntary notice with CFIUS on behalf of a large publicly-traded diagnostic testing company in relation to its $2 billion acquisition by a European company.
  • Successfully filed a voluntary notice with CFIUS on behalf of a high-net-worth businessman from Asia who committed to invest over $100 million in a U.S. investment fund that will finance a variety of U.S. technology and other portfolio companies.
  • Successfully represented a large Japanese conglomerate in obtaining CFIUS approval with respect to its two-stage minority investment in a U.S. technology company.
  • Successfully represented an Asian company on a mandatory declaration filed with CFIUS pertaining to its minority investment (consisting of non-public information rights) in a U.S. wireless technology company.
  • Successfully represented a European public limited liability company on two CFIUS filings with respect to its strategic investment in a U.S.-based supply chain software provider.
  • Successfully represented an Asia-based business conglomerate on a CFIUS filing pertaining to its $60 million acquisition of a U.S. water and wastewater equipment company that supplies the U.S. military.
  • Advised a U.S. semiconductor company on CFIUS regulatory compliance in relation to certain unit purchase agreements involving prospective Chinese investors, joint venture partners, and licensees.
  • Counseled a variety of European, Middle East and Asian CVC’s and investment firms (including Chinese state-affiliated entities) on structuring their funds and financing transactions in a manner to mitigate against CFIUS filing risks in relation to U.S. portfolio investments.
  • Represented FESCO in its investments in the United States, including the acquisition of an aircraft manufacturing plant out of bankruptcy proceedings. This matter involved obtaining U.S. State Department and CFIUS approval.
  • Represented Arrivia, Inc., an Arizona corporation, owned by a subsidiary of a U.K. publicly traded investment company (3i) in its purchase of a cruise and travel agency in a matter involving CFIUS issues.
  • Represented a U.S. aircraft electronics company with English majority-owners in its proposed sale to a Korean conglomerate. The representation included advice related to CFIUS.
  • Represented a programmatic advertising company in connection with an internal reorganization and related export compliance and CFIUS analysis.

CFIUS Resources

CFIUS: A Practical Overview for Dealmakers – English

CIFUS: A Practical Overview for Dealmakers – Spanish

CFIUS: A Practical Overview for Dealmakers – Mandarin – 美国外国投资委员会 交易商的实操指南

Alerts and Insights

CFIUS Enforcement and Penalty Guidelines Just Issued – Transactions Parties Put on Notice that CFIUS Plans to Ramp up Enforcement

Rimon Attorneys With Expertise in CFIUS/National Security Include: