Dutch government allows Nexperia's takeover of Nowi
28 November 2023
The Dutch government's Investment Screening Bureau (Bureau Toetsing Investeringen, BTI) concluded that Nexperia's takeover of Nowi, a start-up from Delft, does not need to be notified retroactively under the Investments, Mergers and Acquisitions (Security Screening) Act (Wet veiligheidstoets investeringen, fusies en overnames, Vifo Act).The Vifo Act entered into force on 1 June 2023, whereas Nexperia acquired Nowi back in November 2022. However, the Vifo Act provides that BTI can retroactively demand notification of certain transactions concluded between 8 September 2020 and 1 June 2023. In January 2023, the Ministry of Economic Affairs and Climate Policy announced that it was going to investigate Nexperia's takeover of Nowi. BTI concluded that the retroactive effect does not apply in this case, as Nowi's products do not qualify as military goods or dual-use goods. Nexperia's takeover of Nowi is therefore final.
The Houthoff team that represented Nexperia consisted of Gerrit Oosterhuis, Jori de Goffau and Cornelie Castelein.