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Russia to Increase Control of Foreign Inbound Acquisitions
13 July 2017
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A pending bill would extend the range of transactions of foreign investors subject to preliminary clearance by the Russian government.
The bill broadens the powers of the chairman of the commission on foreign investments by allowing him to request clearance of any transaction involving foreign investors.
The bill allows the Russian government to impose open-ended restrictions on foreign investors as a condition to clearance.
Foreign investors that fail to notify the Russian competition authority (FAS) upon acquisition of more than 5% in interest of a company of strategic importance can be deprived of their voting rights.
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