If a Chinese company wants to buy part of an Italian-controlled automaker that's incorporated in the Netherlands and headquartered in the United Kingdom, it will still have to get past a national-security review by the U.S. government. And it wouldn't be an easy hurdle to overcome.
The Committee on Foreign Investment in the United States, an interagency working group led by the U.S. Treasury Department, is responsible for reviewing deals that affect control of U.S. businesses and brands, even if the parent company is overseas, as in the case of Fiat Chrysler Automobiles, and even if the affected business lacks obvious defense ties. The reviews can last a month or more, and deals involving Chinese partners can be tied up even longer.
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