Foreign Direct Investment and National Security (FDI)

Foreign investment plays an important role in the Norwegian economy. Capital, technology, industrial expertise and international networks contribute to growth and development. At the same time, investments in Norwegian businesses are increasingly viewed through a national security lens. Norwegian authorities are paying closer attention to who obtains ownership, control or influence over businesses of importance to national security interests.

This is particularly relevant in sectors such as technology, energy, defence, infrastructure, electronic communications, data centres, finance and healthcare. Incorrect assessments may lead to delays, increased costs, revised transaction terms or regulatory intervention.

Arntzen Grette advises Norwegian and international clients on FDI and national security issues in transactions and investments where regulatory risk is a key consideration. We assist buyers, sellers, investors, funds, lenders and target companies in identifying and managing regulatory risk at an early stage.

We assist with:

• assessing filing obligations and the risk of regulatory intervention under the Norwegian Security Act and other relevant rules
• FDI and national security due diligence in connection with acquisitions, investments and restructurings
• transaction structuring where ownership interests, control rights or access to sensitive information may raise regulatory issues
• preparing filings and managing dialogue with relevant authorities
• coordinating FDI assessments across jurisdictions
• advising on the interplay between FDI, M&A, competition law, sanctions, export control, cybersecurity and sector-specific regulation