Chinese company SANY won a case against the United States government after its purchase of an American company was blocked. CCTV’s Jessica Stone reports.
Chinese company SANY sues U.S. governmentChinese company SANY won a case against the U.S. government after its purchase of an American company was blocked. CCTV's Jessica Stone reports.
SANY purchased four wind farms located near a U.S. Naval installation in Oregon through its American subsidiary RALLS. Due to the farms’ location, the U.S. government reviewed the purchase on national security concerns.
The Committee on Foreign Investment in the U.S., or CFIUS, decided that the purchasing of the farms was a threat to national security. President Barack Obama then ordered SANY to remove investments from the American companies, and SANY sued.
After the case made it to the Court of Appeals, the court ruled in SANY’s favor and allowed them to get another chance to address the U.S. government’s concerns on the grounds that they did not get enough information about why the government denied their deal.