19-02-2021 | 10:57

Andrey Tsyganov, Deputy Head of the FAS Russia told at the session “Approval of economic concentration transactions - how regulation of foreign investments may affect the process?” during  the Antimonopoly Forum-2021

”In 2017, the legislation of the Russian Federation on foreign investment made possible to submit any transaction to the Government Commission for consideration. But any one doesn't mean every one. Over the years, 16 transactions have been considered under this provision of the law. 4 of them were approved by the Government Commission, 2 cases were refused and 2 ones are in the process of receiving a reply,” Andrey Tsyganov said.

During the session, it was emphasized that the State Duma recently approved amendments to the Law on the Procedure for Foreign Investment (57-FZ), developed by the FAS Russia. The rules approved by the deputies will allow to coordinate a number of transactions with foreign participation without their submission to the Government Commission. The changes will affect transactions with companies related to water supply or work with infectious agents.

In this regard, Ksenia Tyunik, senior lawyer of White&Case, moderator of the session, asked the Deputy Head of the FAS Russia whether there is a further legislative expansion of strategic activities.

“First of all, we need to look at the results of the new law enforcement practice, and if it turns out to be effective, we will continue this work and consider the possibility of extending it to other types of activities,” Andrey Tsyganov commented.

The speaker noted that if it is necessary to conclude an agreement with a foreign investor, the FAS Russia develops a joint position with the participants of the transactions based on the results of the consideration of the transaction at the Legal Commission.

“The economy and security of the country are the pillars that play an important role in the decision-making of the FAS Russia. When approving transactions of economic concentration, we act correctly and without prejudice to the economic activities of companies, including foreign investors, and also make sure that the security and defense of Russia are reliably protected,” Andrey Tsyganov concluded.

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