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Law360 Guest Article: Facing CFIUS: Better Safe Than Sorry
George H. Wang
The Committee on Foreign Investment in the United States recently blocked yet another acquisition involving Chinese investors.
Although initially the committee did not interfere with many acquisitions, CFIUS has recently received attention because of several blocked investments by Chinese firms. This time, CFIUS has recommended that Far East Golden Resources Group Ltd., a subsidiary of Chinese-run Hybrid Kinetic Group Ltd., rescind its 2010 acquisition of the mining company Nevada Gold. CFIUS’ objection is based on the fact that Nevada Gold’s primary facility is located near the Fallon Naval Air Station, the military training facility featured in the movie “Top Gun.” Excerpted from Law360, July 5, 2012. To view article, click here (subscription required).