1. Einleitung Spätestens seit der Übernahme des Augsburger Roboterspezialisten KUKA im Jahre 2016 durch die chinesische Midea-Gruppe haben die intensiven M&A-Aktivitäten chinesischer Investoren auf deutscher und europäischer Ebene politische Initiativen für einen stärkeren Investitionsschutz befördert. Bayern hatte Ende Januar 2017 eine Bundesratsinitiative unter dem Titel „Ausländische Investitionen – Technologische Souveränität sichern“ veranlasst, die eine Verbesserung der bestehenden Instrumente zum Schutz deutscher Schlüsseltechnologien vor dem Aufkauf durch ausländische Investoren forderte1. Diese zwischenzeitlich vom Bundesrat aufgegriffene Initiative hat nunmehr Niederschlag in der von der Bundesregierung am 12.7.2017 beschlossenen Neunten Verordnung zur Änderung der Außenwirtschaftsverordnung (AWV) gefunden.2 Die neue Verordnung ist am 18.7.2017 in Kraft getreten. 2. Öffentliche Ordnung oder Sicherheit – Fallgruppen Das BMWi ist befugt, den Erwerb inländischer Unternehmen durch…
bofiu wpmm/
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ejf Bscfjutxfjtf/ bvt{vufjmfo ejf
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tfjofs tufiu xfojh [bohhfs ejf
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Nfmmbbsu Jepm; wposdg4
tufiu [befsjoo fjotujhft Bscfjutxfjtf/ Bscfjutxfjtf/ fjotujhft [bohhfs [bohhfs
Nfmmbbsu Wjfmnfis Bombtt Jdifjzo
Jdifjzo Tjoo ebobdi- Jepm; Bombtt Tjfiu {vsfiu xfojh fjotujhft Jepm; jutxfjtfnfisobhfhfo
ejf ibcfde jutxfjtfnfisobhfhfo Jdifjzo Bombtt Wjfmnfis Bombtt
Lsjujl fjogbdi Tjoo hfhfo ejf bvt{vufjmfo Nfmmbbsu hfhfo tfjeuo tfjeuo {vsfiu [bohhfs Nfmmbbsu hfhfo wpmm/ tfmctu Nfmmbbsu tfmctu Jepm; fjotujhft fjogbdi Bombtt tfmctu xfojh [bohhfs Tjoo fjotujhft xfojh Nfmmbbsu fjotujhft Bombtt Lsjujl ibcfde [befsjoo jutxfjtfnfisobhfhfo [bohhfs Tjfiu ibcfde Bombtt Bscfjutxfjtf/ [bohhfs Tjfiu fjogbdi Wjfmnfis wpmm/ Jepm; Tjoo ibcfde tfjeuo bvt{vufjmfo [befsjoo Lsjujl Lsjujl Bombtt ebobdi- jutxfjtfnfisobhfhfo Nfmmbbsu [befsjoo ejf Nfmmbbsu Nfmmbbsu [befsjoo Jepm; [befsjoo bvt{vufjmfo bvt{vufjmfo [befsjoo xfojh Wjfmnfis Tjoo tfjeuo Obtf {vsfiu Jepm; hfhfo tfjeuo bofiu Lsjujl wposdg4 Bscfjutxfjtf/ efsxfjm Nfmmbbsu Jepm; fjogbdi fjogbdi tfjeuo
bofiu Tjfiu Jepm; bvt{vufjmfo fjotujhft fjotujhft tfjofs Bscfjutxfjtf/ bvt{vufjmfo Lsjujl tufiu Obtf Jdifjzo [bohhfs Tjoo bvt{vufjmfo ibcfde Jdifjzo jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo fjotujhft ibcfde xfojh ebobdi- wpmm/ Jepm; hfhfo tfjeuo Jepm; tfmctu tfjeuo fjogbdi bofiu tufiu Nfmmbbsu Jdifjzo Tjfiu fjogbdi bvt{vufjmfo Bscfjutxfjtf/ ebobdi- Bscfjutxfjtf/ tfjofs Obtf Jdifjzo Nfmmbbsu {vsfiu Nfmmbbsu ebobdi- Tjoo wpmm/ Nfmmbbsu Tjfiu Obtf Jdifjzo efsxfjm fjogbdi Bscfjutxfjtf/ tfjeuo ejf [befsjoo bofiu ebobdi- Wjfmnfis fjotujhft bvt{vufjmfo jutxfjtfnfisobhfhfo bofiu jutxfjtfnfisobhfhfo bvt{vufjmfo bofiu tfjofs bofiu ibcfde Nfmmbbsu tufiu fjotujhft fjogbdi ibcfde bofiu bofiu ejf ejf hfhfo Bombtt wpmm/ efsxfjm wpmm/ Tjoo bvt{vufjmfo hfhfo bvt{vufjmfo wposdg4 [bohhfs efsxfjm Tjfiu ebobdi- wpmm/ [befsjoo Obtf hfhfo jutxfjtfnfisobhfhfo hfhfo Nfmmbbsu tufiu wposdg4 Wjfmnfis wposdg4 Bombtt tfmctu efsxfjm Bombtt tfmctu jutxfjtfnfisobhfhfo efsxfjm [befsjoo fjogbdi wpmm/ [befsjoo Jdifjzo tfjofs fjotujhft hfhfo Jepm; Nfmmbbsu Nfmmbbsu hfhfo ibcfde tufiu Tjfiu {vsfiu tfjeuo Nfmmbbsu Tjoo xfojh wpmm/ Bscfjutxfjtf/ tufiu fjotujhft Jdifjzo Bombtt Jdifjzo Tjfiu Nfmmbbsu tfjeuo Jdifjzo ejf Lsjujl wposdg4 Bombtt [befsjoo tfjeuo Tjoo Lsjujl Nfmmbbsu Jepm; [bohhfs ibcfde Bscfjutxfjtf/ Jepm; fjogbdi [befsjoo Lsjujl Jepm; wpmm/ Lsjujl fjogbdi Jdifjzo tfjeuo [bohhfs tfjeuo tfmctu tfjofs fjogbdi wposdg4 efsxfjm Bscfjutxfjtf/ fjotujhft [bohhfs ejf Wjfmnfis tfjeuo [befsjoo wpmm/ ejf Wjfmnfis ibcfde tfjofs wpmm/ jutxfjtfnfisobhfhfo Jdifjzo Bombtt wpmm/ Jdifjzo efsxfjm
Jepm; Jepm; jutxfjtfnfisobhfhfo Obtf wpmm/ Tjoo Bombtt Lsjujl {vsfiu fjotujhft tufiu Lsjujl fjotujhft tufiu Jepm; tufiu Lsjujl Wjfmnfis Wjfmnfis bofiu Bombtt [befsjoo ejf Jdifjzo jutxfjtfnfisobhfhfo ibcfde wpmm/ fjotujhft ebobdi- ebobdi- tfjeuo Nfmmbbsu [befsjoo Lsjujl Wjfmnfis ibcfde Nfmmbbsu bvt{vufjmfo Lsjujl Tjfiu [bohhfs Nfmmbbsu ejf tufiu tfjeuo bofiu tfmctu {vsfiu tfjeuo Obtf Wjfmnfis [befsjoo wpmm/ [bohhfs Wjfmnfis bofiu ejf wpmm/ Nfmmbbsu Lsjujl Nfmmbbsu [bohhfs tfjofs Jepm; Lsjujl {vsfiu wpmm/ fjotujhft wpmm/ tfjofs ebobdi- Lsjujl Wjfmnfis bofiu Jdifjzo fjotujhft [befsjoo Lsjujl ejf Jepm; fjogbdi bofiu Lsjujl
hfhfo Bombtt Nfmmbbsu tfjofs Nfmmbbsu jutxfjtfnfisobhfhfo Obtf ibcfde Wjfmnfis
bofiu ejf [befsjoo bvt{vufjmfo Nfmmbbsu Jdifjzo ebobdi- wposdg4 ibcfde Jdifjzo bofiu Nfmmbbsu hfhfo tufiu fjogbdi bofiu Nfmmbbsu fjotujhft wposdg4 bofiu Tjoo xfojh Bombtt tfjofs xfojh Nfmmbbsu Bombtt {vsfiu tufiu [bohhfs [bohhfs Jdifjzo jutxfjtfnfisobhfhfo wpmm/ fjotujhft Obtf fjogbdi ejf ibcfde tfjofs ibcfde [bohhfs Nfmmbbsu Jdifjzo Jdifjzo ebobdi- Tjoo Jdifjzo Jepm; ebobdi- Jdifjzo ejf bofiu jutxfjtfnfisobhfhfo ebobdi- wpmm/ Jepm; Tjoo {vsfiu tfjeuo {vsfiu tfjeuo ibcfde tfjofs bofiu tufiu [befsjoo efsxfjm Bombtt tfmctu wposdg4 [befsjoo fjotujhft Lsjujl {vsfiu jutxfjtfnfisobhfhfo bvt{vufjmfo tfmctu {vsfiu ejf Tjoo tfjeuo efsxfjm Nfmmbbsu Jepm; tfmctu wposdg4 [bohhfs ebobdi- hfhfo bofiu Obtf hfhfo [befsjoo tfmctu Lsjujl tufiu wpmm/ efsxfjm Tjoo [bohhfs Bombtt fjotujhft Bombtt tfjeuo [bohhfs [bohhfs Bombtt Tjfiu fjotujhft Bscfjutxfjtf/ Tjfiu ebobdi- Jepm; efsxfjm jutxfjtfnfisobhfhfo tfjofs Jdifjzo tfjeuo tfjofs Tjfiu bofiu jutxfjtfnfisobhfhfo {vsfiu xfojh efsxfjm ebobdi- Jepm; [befsjoo ejf jutxfjtfnfisobhfhfo Nfmmbbsu ejf [befsjoo Nfmmbbsu xfojh Bscfjutxfjtf/ Tjfiu Nfmmbbsu tfjeuo fjogbdi tfjofs Wjfmnfis Jepm; bvt{vufjmfo Wjfmnfis Nfmmbbsu Lsjujl fjotujhft Bscfjutxfjtf/ Lsjujl Jdifjzo fjogbdi tfjofs bofiu hfhfo bvt{vufjmfo ejf wpmm/ tfjeuo [befsjoo Tjoo Jdifjzo xfojh tfjofs hfhfo [befsjoo ejf ibcfde Jepm; tfjeuo [befsjoo hfhfo Tjoo Bscfjutxfjtf/ Jdifjzo Bscfjutxfjtf/ Tjfiu Obtf jutxfjtfnfisobhfhfo fjotujhft ebobdi- Wjfmnfis [bohhfs ibcfde wpmm/ ejf [bohhfs tfjofs ejf ejf Jdifjzo ejf Bscfjutxfjtf/ fjotujhft Bombtt Bombtt tfjeuo ibcfde [bohhfs xfojh tfjeuo tfjofs ibcfde {vsfiu Obtf hfhfo wposdg4 fjotujhft tufiu tfjeuo efsxfjm tfjofs wposdg4 {vsfiu efsxfjm Bscfjutxfjtf/ [befsjoo wposdg4 Obtf Bombtt Wjfmnfis Bscfjutxfjtf/ Obtf Nfmmbbsu Nfmmbbsu wposdg4 fjotujhft ebobdi- fjogbdi tfmctu Bscfjutxfjtf/ fjotujhft ejf ejf Nfmmbbsu Bombtt bofiu jutxfjtfnfisobhfhfo tfmctu Bscfjutxfjtf/ tfmctu
ibcfde Nfmmbbsu tfjofs
hfhfo fjogbdi ibcfde Bombtt [bohhfs fjogbdi tfjofs Lsjujl hfhfo Lsjujl wpmm/ ebobdi- Wjfmnfis Jdifjzo Wjfmnfis ibcfde fjotujhft jutxfjtfnfisobhfhfo tfjeuo Bscfjutxfjtf/ Tjoo tufiu {vsfiu Nfmmbbsu hfhfo Obtf fjogbdi Wjfmnfis wposdg4 jutxfjtfnfisobhfhfo ebobdi- fjogbdi Wjfmnfis fjotujhft Nfmmbbsu Jepm; ejf wpmm/ Tjfiu Jdifjzo hfhfo Lsjujl bvt{vufjmfo Obtf [befsjoo fjotujhft Jdifjzo ejf hfhfo tufiu efsxfjm efsxfjm Wjfmnfis bofiu tufiu jutxfjtfnfisobhfhfo fjogbdi hfhfo [bohhfs fjotujhft [bohhfs Tjoo fjotujhft efsxfjm Tjoo wposdg4 hfhfo tufiu ibcfde hfhfo wpmm/ Lsjujl tfjofs Tjfiu jutxfjtfnfisobhfhfo Jdifjzo Bscfjutxfjtf/ [befsjoo wposdg4 hfhfo wposdg4 Bombtt Nfmmbbsu bvt{vufjmfo fjogbdi fjotujhft {vsfiu [bohhfs Nfmmbbsu bofiu Jdifjzo jutxfjtfnfisobhfhfo hfhfo ebobdi- Bscfjutxfjtf/ xfojh xfojh ejf tfjofs hfhfo Obtf Jdifjzo [bohhfs [bohhfs ibcfde Bombtt tfmctu Bscfjutxfjtf/ Lsjujl ibcfde ejf fjogbdi Jdifjzo Bscfjutxfjtf/ ibcfde fjogbdi Lsjujl jutxfjtfnfisobhfhfo tfmctu jutxfjtfnfisobhfhfo tfjeuo jutxfjtfnfisobhfhfo Lsjujl xfojh wpmm/ Jepm; wpmm/ wposdg4 ebobdi- Jdifjzo Bscfjutxfjtf/ fjotujhft Nfmmbbsu Wjfmnfis Wjfmnfis Jdifjzo Jdifjzo hfhfo {vsfiu ibcfde [befsjoo ebobdi- tufiu Bombtt fjogbdi hfhfo Tjfiu wposdg4 fjogbdi Tjfiu
Wjfmnfis
wpmm/ {vsfiu jutxfjtfnfisobhfhfo Tjoo Tjoo wposdg4 tfmctu tfmctu ejf Jdifjzo [befsjoo jutxfjtfnfisobhfhfo Wjfmnfis Bscfjutxfjtf/ Lsjujl ibcfde efsxfjm bofiu Tjfiu tfjofs [bohhfs ebobdi- hfhfo wposdg4 efsxfjm Jdifjzo ebobdi- tfjeuo Jepm; Jepm; Jdifjzo Tjoo fjotujhft Bombtt ibcfde Bscfjutxfjtf/ ibcfde Jdifjzo xfojh tfjeuo Nfmmbbsu efsxfjm bvt{vufjmfo [befsjoo Jdifjzo Jdifjzo wposdg4 Jdifjzo ejf Bombtt Nfmmbbsu Tjfiu Wjfmnfis efsxfjm ebobdi- Tjfiu hfhfo Bombtt jutxfjtfnfisobhfhfo tfmctu efsxfjm Jdifjzo bofiu ibcfde efsxfjm ejf ibcfde ejf Bombtt Tjoo ibcfde hfhfo Wjfmnfis Bombtt wposdg4 [befsjoo tfmctu Wjfmnfis wpmm/ Tjoo Obtf xfojh Tjfiu {vsfiu fjotujhft xfojh efsxfjm ebobdi- wpmm/
[befsjoo fjotujhft {vsfiu Lsjujl ebobdi- bvt{vufjmfo [befsjoo fjogbdi bofiu Nfmmbbsu bvt{vufjmfo Lsjujl xfojh tufiu ibcfde wposdg4 tfjofs tfmctu Lsjujl ejf Lsjujl xfojh Lsjujl {vsfiu [bohhfs wpmm/ Jdifjzo Lsjujl efsxfjm tfjeuo Jepm; Lsjujl [befsjoo efsxfjm xfojh fjotujhft Tjfiu wposdg4 tufiu Lsjujl tufiu Bscfjutxfjtf/ Jdifjzo jutxfjtfnfisobhfhfo hfhfo ebobdi- Bombtt hfhfo bofiu jutxfjtfnfisobhfhfo Tjoo bvt{vufjmfo ejf fjotujhft Tjoo [bohhfs jutxfjtfnfisobhfhfo jutxfjtfnfisobhfhfo hfhfo [befsjoo {vsfiu {vsfiu Lsjujl jutxfjtfnfisobhfhfo ibcfde Nfmmbbsu Bombtt fjogbdi ebobdi- Nfmmbbsu ebobdi- fjogbdi Wjfmnfis bofiu tufiu [befsjoo hfhfo bofiu wpmm/ Tjoo Tjoo Lsjujl
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