OREANDA-NEWS. December 08, 2010. At its next meeting in December 2010, the Government Commission on Control over Foreign Investments in the Russian Federation will consider the transaction on acquiring the controlling interest in “Wimm-Bill-Dann Foods” OJSC by PepsiCo, reported the press-centre of FAS Russia.

It was announced by Igor Artemyev, the Head of the Federal Antimonopoly Service (FAS Russia), answering questions from journalists.

“Last week we received important documents regarding the transaction. As we’ve been assured by the parties to the transaction, today or tomorrow they are going to file a petition to FAS Russia as required by the law”, - stated Igor Artemyev.

Reference:

The Government Commission on Control over Foreign Investments in the Russian Federation is formed in accord with the Federal Law “On the Procedures for Foreign Investments in the Business Entities of Strategic Importance for the National Defense and State Security” in order to control foreign investments in the economic entities of strategic importance for the national defense and state security.

The main tasks of the Commission are: preliminary approvals of the transactions that lead to control of a foreign investor or a group of persons, which includes the foreign investor, over economic entities of strategic importance and approvals of establishing control of a foreign investor or a group of persons over economic entities of strategic importance or refusals to grant such approvals.