Page 15 - The CFIUS Book

The roadmap we use for this section shows how and in what order you answer the questions to analyze whether your transaction should be submitted for CFIUS review.
l If you determine that yours is not a covered transaction, your risk is low as CFIUS would only undertake a review if it came to a different conclusion regarding whether your transaction was covered.
l IfyourtransactioniscoveredbutnotrelatedtoU.S.criticalinfrastructure,there is some risk, but it is unlikely to attract CFIUS review. However, as we state in our introduction and in Section 5, CFIUS is expanding its reach. The fact that your transaction is not of a type that has historically been reviewed by the Committee does not guarantee that it will not be reviewed in the future.
l If your transaction is covered and either has elements CFIUS usually considers a national security concern or is similar to transactions CFIUS has reviewed in the past, then there is a substantial risk that CFIUS would take notice and review your transaction ab initio, even if you do not submit a filing.
l *To be Implemented: If your transaction falls in one of the covered minority investments that CFIUS will define by regulation by February 2020, there is there is a substantial risk that CFIUS would take notice and review your transaction ab initio, even if you do not submit a filing.
l Ifyourtransactioniscovered,haselementsthataretypicallyanationalsecurity 15
THE CFIUS BOOK
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