OREANDA-NEWS. March 15, 2013. Deputy Head of the Federal Antimonopoly Service (FAS Russia) Andrey Tsyganov took part in “Mergers & Acquisitions in Russia 2013” Forum organized by the U.S. – Russia Business Council (USRBC) in New York, Russia.

Attendees included the leading U.S. investment, financial and law firms actively operating on the Russian market: Goldman Sachs, Debevoise & Plimpton LLP, JP Morgan and others.

The Forum focused on the prospects and trends of investing in Russia through mergers and acquisitions due to intensified Russia’s integration in the global economy.

Andrey Tsyganov gave a report about “Russian law on foreign investments and increasing efficiency of antimonopoly control in the context of globalization of the world economy”. He informed Forum participants about the latest changes in the antimonopoly law:

• Excluding activities on using agents of infections by economic entities, mostly involved in food production, from the list of strategic activities;

• Introducing possibility to extend validity of earlier issued decisions on preliminary approvals of transactions;

• Excluding preliminary approvals of transactions made by foreign investors that already own 75 % shares of users of subsurface resources;

• Excluding preliminary approvals of intra-group transactions regarding users of subsurface resources;

• Clarifying a concept of “agreement”, which will mean any arrangements and actions of foreign investors for joint voting in regulatory bodies of strategic companies.

Andrey Tsyganov also discussed FAS efforts to control foreign investments in economic entities of strategic importance and outlined FAS priorities for 2013:

• Intensifying efforts against cartels;

• Prohibiting abuses of market dominance;

• Controlling the authorities;

• Tightening control over holders of natural monopolies;

• Increasing transparency of FAS work;

• Expanding cooperation with foreign competition authorities in investigating violations;

• Exchanging experience with foreign competition authorities;

• Reducing administrative burden on business. “Control over economic concentration must not create excessive administrative burden on business”, commented Andrey Tsyganov.

Participation in such events is absolutely essential for presenting FAS position on the issues of competition policy and enforcement in the field of foreign investments, which, in its turn, enhances investment attractiveness of the Russian Federation.

1. “Mergers & Acquisitions in Russia 2013” Forum took place on 28th February 2013.

2. U.S. – Russia Business Council (USRBC) is a non-governmental organization; its members include around 240 American firms, companies and financial groups with business interest in Russia. The Council was formed in 1993 soon after the dissolution of American-Soviet Trade and Economic Council. USRBC facilitates devising and adopting measures towards expanding American private investments in the Russian economy and establishing business relations between American and Russian firms and enterprises. The Council disseminates official and business information regarding Russia – U.S. commercial-and economic cooperation; encourages direct dialogue between American and Russian official and business circles; organized workshops and conferences.