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26 Mar 2024

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Foreign Subsidies Regulation: Commission Closes First Investigation Following Chinese Company's Withdrawal

On 16 February 2024, the European Commission launched its first in-depth investigation under the Foreign Subsidiaries Regulation (FSR) concerning a BGN 1.2 billion (EUR 610 million) public procurement initiated by Bulgarian public authorities for the tender of 20 electric "push-pull" trains, inclusive of maintenance over 15 years and staff education.

In response to the Commission's announcement of an in-depth FSR investigation, the Chinese company voluntarily withdrew from the public procurement tender. The Commission has therefore closed its investigation.