Page 57 - RusRPTSept23

4.3.2 Corporates
Activity on the Russian mergers and acquisitions (M&A) market remains at a high level in July. The volume of transactions in the second quarter amounted to $12.5bn, showing the third result in three years. In the future, experts expect a continued growth in the number of transactions, but a decrease in their volume. Basically, we will talk about the exit of Russian owners from foreign assets, while the process of selling business in the Russian Federation by foreign owners will be complicated by strict legislative requirements.
According to AK&M, according to the results of the second quarter, 172 transactions for $12.5bn took place in the Russian M&A market. In monetary terms, the result is the same as in the first quarter, but in quantitative terms, the market grew 1.5 times, with more than a third of transactions taking place in June . In the reporting period, two major transactions worth more than $1bn took place - the sale by LUKOIL of the ISAB refinery in Sicily for $1.61bn and the purchase by Rosatom of three blocks of the Budenovskoye uranium deposit in Kazakhstan for $1.6bn. In the previous quarter, there was one major transaction - purchase by VTB bank of FC Otkritie bank for $4.83bn.
RUSSIA Country Report September 2023 www.intellinews.com