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ARTICLE · 16 AUGUST 2023

UK National Security Review

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The UK Secretary of State recently imposed novel government step-in rights and other national security remedies on a major French company's acquisition of two UK businesses that supply naval propulsion systems...

United KingdomGovernment, Public Sector

The UK Secretary of State recently imposed novel government step-in rights and other national security remedies on a major French company's acquisition of two UK businesses that supply naval propulsion systems, among other things.

The transaction. A wholly owned subsidiary of EDF Energy Holdings Limited agreed to acquire control of GE Oil & Gas Marine & Industrial UK Limited and GE Steam Power Limited. This transaction was reviewable under the UK National Security and Investment Act 2021.

The issue. The Secretary of State considers the acquisition to be a risk to national security due to the fact that both UK companies deliver critical national security and defense capabilities relating to naval propulsion systems.

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