Insights

Political influence over bank M&A in the EU is not new, but it has rarely been this visible. Over the past two years, three of Europe’s most consequential bank transactions have shown that commercial rationale, competition clearance and prudential approval alone may not determine a transaction’s prospects. Political feasibility can be equally decisive. Then Vice-President of the European Central Bank (ECB), Luis de Guindos, was blunt in a May 2026 exit interview: "Political interference eats away at the credibility of the Single Market message".

The Dutch government has published a consultation draft of the 2027 Justice and Security Simplification Bill, proposing targeted technical amendments to Dutch company law for public limited liability companies (NVs), private limited liability companies (BVs) and associations. The proposed amendments are based on advice given by the Expert Group on NV Modernisation in 2024. The consultation period closed on 10 July 2026.

On 9 July, the Court of Justice of the European Union (CJEU) provided clarity on various questions posed by the Dutch Supreme Court in a copyright infringement dispute between Anne Frank Fonds and our clients, Anne Frank Stichting, KNAW and Belgian association VOOHT (AFS et al.). For more background on the case before the Dutch Supreme Court, see our earlier article here. 

De Brauw advised the underwriting banks on the US initial public offering of INNIO N.V., a global energy solutions provider for applications such as data centres. The IPO consisted entirely of a secondary offering by the selling shareholder AI Alpine, which is co-owned by funds managed by Advent International and the Abu Dhabi Investment Authority (ADIA). It raised USD 2.43 billion.

Universal Music Group is a music and entertainment company active in recorded music, music publishing, merchandising and audiovisual content. It has been listed on Euronext Amsterdam since 2021. Pershing Square Capital Management, L.P. is a New York-based hedge fund founded and managed by Bill Ackman.

De Brauw advised TenneT Netherlands B.V. on a decision by the Dutch central bank allowing credit institutions to treat exposures to TenneT as exposures to the Dutch central government. TenneT is the first Dutch company to obtain this status and to be included on the European Banking Authority's list.