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Mergers and acquisitions in Russia surged to 71 billion dollars last year, and foreign investment reached 31 billion. The strength of the figures suggests that foreign investors are not put off either by state encroachment on 'strategic industries', such as the entry of Gazprom into the Sakhalin-2 project, or the authorities' treatment of now bankrupt company Yukos. Yet foreign companies investing in Russia are increasingly aware of the need to have a state or state-backed partner with which to set up joint ventures and acquire assets both within Russia and abroad.
In the oil and gas sector, the number of joint ventures between ‘national champions’, Rosneft and Gazprom, and foreign companies has grown in recent months. Meanwhile, the metals and mining sectors have also displayed increasing dynamism, with the state encouraging the expansion of metals industries abroad and at home. The scope for foreign participation in many sectors will depend on whether they are listed as being of national significance in new legislation on ‘strategic enterprises’.
The questions to be addressed during the conference call will include:
