MEXICO Law and Practice Contributed by: Christian Lippert, Carlos Chávez, Juan Carlos Burgos and Édgar Martín, Galicia Abogados
9. Foreign Direct Investment/Subsidies Review 9.1 Legislation and Filing Requirements As noted in 1.2 Legislation Relating to Particular Sec- tors , the FIA establishes that the acquisition by foreign investors of interests greater than 49% in Mexican companies whose assets exceed a certain monetary threshold fixed annually by the CNIE requires the prior authorisation of the CNIE.
such as due process, timing for issuance of a deci - sion, and fines relating to remedies. No objection to a merger has been successful in court. 8.3 Ability of Third Parties to Appeal Clearance Decisions As noted in 7.1 Third-Party Rights , third parties do not have standing in the CNA merger control process and therefore do not have appeal rights. To success - fully petition a court and have a clearance decision reversed, a third party would in essence need to chal - lenge the constitutionality of the FCA and persuade a court that the merger control proceedings should include third parties as formal interested parties. The effect of such a claim would be to reverse clear - ance and remand so that the CNA can take into con - sideration the arguments of the third party and then issue a decision. In the larger scheme of things, how - ever, this would set a precedent that would change the nature of merger control as set forth in the FCA.
394 CHAMBERS.COM
Powered by FlippingBook