The authorities have decided to make it more difficult for foreigners to leave Russian businesses and have compiled a list of 10 items that must be completed to close a deal. This is stated in the decision of the subcommittee of the government investment control commission, reports Vedomosti.
Among them is a restriction on repurchase options and the buyer’s obligation to place up to 20% of PJSC’s shares in organized auctions.
According to the subcommittee’s decision, the listing procedure must be started within one year after the agreement, and the listing must be completed within three years.
Experts believe that the obligation to list on the stock exchange is a way to distribute assets at a discount, even among ordinary market participants. At the same time, the Central Bank will probably still work out the mechanism of such SPOs.
- In March 2023, the Government Commission for the Control of Foreign Investments ordered foreigners from “enemy” countries to pay a contribution to the Russian budget in the amount of 10% of half the market value of assets in Russia, subject to its sale. If the discount on the value of the assets sold is 90% or more, the 10% fee will not be calculated on half the value of the assets, but on their full value.
Author:
karina pardaeva
Source: RB
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