1. What is the applicable legislation? The main act is the Act on Screening of Certain Foreign Direct Investments, etc. in Denmark (Consolidated Act No. 1256 of 27 October 2023) (Investment Screening Act) and the corresponding executive orders. The Investment Screening Act and the corresponding executive orders first entered into force on 1 July 2021 and apply to both investments and so-called 'special financial agreements’ closed on or after 1 September 2021. Further, the Act on War Material (Consolidated Act No. 1004 of 22 October 2012) contains a screening mechanism that only applies to undertakings producing certain war material. If an investment is covered by the Act on War Material, the Investment Screening Act does not apply. Furthermore, a number of similar Acts—not included in the Danish FDI screening regime—exist. These include: • The Act on the Continental Shelf and Certain Activities on the Territorial Sea (Consolidated Act No. 199 of 27 February 2024) stipulates that authorisation must be granted before placing certain pipelines in Danish waters. When reviewing applications for authorisation, the Danish authorities will take foreign and national

This table summarises all completed investigations by Denmark’s competition authority (the Danish Competition and Consumer Authority—DCCA) into alleged cartels, anti-competitive agreements and abuses of dominant positions (Articles 101/102 TFEU and national equivalents) since 2018. Note—only investigations that have been made public are included in this table. 2026 Investigations under Article 101 TFEU/sections 6–8 of the Danish Competition Act Case name, companies under investigation and industry Issues Developments Train spare parts • Diesel Motor Nordic• Deutz AG Restrictive agreement—price fixing • Infringement decision announced—05/05/2026; fines totalling DKK 1m imposed Investigations under Article 102 TFEU/section 11 of the Danish Competition Act The DCCA has not yet issued any decisions under Article 102/section 11 in 2026. 2025 Investigations under Article 101 TFEU/sections 6–8 of the Danish Competition Act Case name, companies under investigation and industry Issues Developments Advertising • AFA Decaux A/S• Clear Channel Denmark Restrictive agreement—price fixing • Infringement decision announced—23/10/2025; fines totalling DKK 10m imposed Kiosks• Bjergkiosken• Ugleboden Restrictive agreement—allocating markets • Infringement decision announced—27/01/2025; fines totalling DKK 250,000 imposed Discotheques• Ecit Account A/S Restrictive agreement—allocating markets • Infringement decision announced—27/01/2025;

NOTE—to see whether notification thresholds in Denmark and throughout the world are met, see further: Where to Notify. 1. Have there been any recent developments regarding the Danish merger control regime and are there any updates/developments expected in the coming year? Are there any other 'hot' merger control issues in Denmark? On 1 July 2024, an amendment to the Danish Competition Act (the Act) entered into force introducing a ‘call-in’ provision similar to the EU's Article 22 referral mechanism in the regulation on the control of concentrations between undertakings (EUMR). With this provision, the Danish Competition and Consumer Authority (DCCA) is authorised to demand the notification of mergers if the parties' combined annual turnover in Denmark exceeds DKK 50m (about €6.7m) and if the DCCA assesses that there is a risk that the merger may significantly impede effective competition. The call-in option applies to all sectors, but according to the legislative preparatory work, the DCCA will be particularly focused on the finance, tech, and pharma sectors. The DCCA must determine within 15 days of being notified about a potential

Law360, London: Denmark's 'bruising' defeat in its £1.4bn cum-ex fraud case against trader Sanjay Shah and others calls into question its legal strategy and the scope of its claim, lawyers have said, although they believe an appeal appears inevitable.

Loan market and developments Please provide a brief overview of the current state of the loan markets in your jurisdiction and any significant recent market developments. The majority of all commercial loans continue to be provided as bank loans (committed and uncommitted) often on a secured basis. The security package may include security over, for example, shares, real property, bank accounts and sometimes also a floating charge covering all moveable property, receivables and intellectual property rights of the corporate borrower in question. Financing of both private and commercial real property is most often made by way of a mortgage credit loan made available by a mortgage credit institution against security over the relevant property. The Danish Capital Markets Act introduced the SME Growth Markets in Denmark, referring to small and medium sized companies (SMEs). In the preparatory remarks to the act it is stated that SMEs have had difficulties in obtaining finance after the financial crisis. By introducing the SME Growth Markets in Denmark, the hope is to provide SMEs with easier access to the

CASE HUB ARCHIVED–this archived case hub reflects the position at the date of the decision of 24 July 2018; it is no longer maintained. See further, timeline, commentary and related cases. Case facts Outline European Commission Article 101 TFEU investigation into vertical restrictions on online sales of consumer electronic products imposed by Denon & Marantz (Case AT.40469). Latest developments On 24 July 2018, the Commission issued its infringement decision against Denon & Marantz, imposing a fine of €7.719m (following an ‘informal settlement’), for imposing fixed or minimum resale prices on its online retailers in breach of Article 101 TFEU. Parties Denon & Marantz is a Japan based company that manufactures audio and visual consumer products. Background The Commission opened its investigation in February 2017 as a result of information obtained during its e-commerce sector inquiry. Market(s) Markets for the manufacture, distribution and retail of consumer electronic products, in particular audio and visual consumer products. Decision The Commission found that Denon

Law360: The failure by the Solicitors Regulation Authority (SRA) to secure a sanction against Dentons over the firm's handling of anti-money laundering (AML) checks on a former client is a blow to the regulator's enforcement ambitions which-if upheld-could prompt caution in future prosecutions, lawyers say.

Law360: The UK arm of Dentons said on Monday, 11 March 2024, that it has defeated an English regulatory action over its handling of anti-money laundering (AML) checks on a politically exposed former client, as a London tribunal dismissed the Solicitors Regulation Authority's (SRA) case.

Law360, London: Dentons failed on 27 April 2026 to prevent a rerun of allegations that it breached money laundering rules while acting for a politically exposed client, as an appeals court said a new tribunal must decide whether the Dentons' actions amounted to professional misconduct and what sanction might follow.

The Department for Business and Trade (DBT) has announced multiple tariff modifications under the UK-US trade agreement, to be implemented by end-June 2025. Changes include the complete removal of aerospace sector tariffs, reduction of automotive export tariffs from 27.5% to 10%, and exemption from the global 50% tariff on steel and aluminium. The agreement establishes reciprocal beef quotas of 13,000 metric tonnes for both nations, with implementation details pending Parliamentary update. The DBT confirms all US beef imports must meet existing UK food safety standards. Additional provisions regarding pharmaceutical sector preferential treatment remain under negotiation.

The Department for Business and Trade has announced that the UK and South Korea finalised a free trade agreement on 15 December 2025, which is expected to grow UK services exports by £400m and protect £2bn of UK exports from tariff increases. The agreement secures continued tariff-free access across 98% of tariff lines, matching terms the EU has with South Korea, and creates opportunities for British businesses to benefit from South Korea's import market, forecast to grow by 26% by 2035. The deal updates rules of origin to simplify tariff-free access and enable greater supply chain diversification for automotive and pharmaceutical sectors, while strengthening UK access to South Korea's expanding financial market, building on £1.1bn in financial and insurance exports in 2024. Additional provisions include streamlined customs processes and reduced non-tariff barriers to assist smaller businesses, which comprise over 99% of UK businesses, and legitimisation of e-contracts and digital technology usage. The agreement represents the fourth trade deal the UK government has concluded in 2025, following agreements with India, the EU and the US.

The Department for Business and Trade (DBT) has published two public notices extending both anti-dumping and countervailing duties on organic coated steel products from China, following recommendations from the Trade Remedies Authority (TRA). The decision follows a transition review initiated on 15 April 2024 and implements the extensions under regulation 101C(2)(a) of the Trade Remedies (Dumping and Subsidisation) (EU Exit) Regulations 2019, SI 2019/450.