Obtaining prior consent of competent authorities to conclude transactions

After 24 February 2022, foreign firms began leaving Russia and started actively selling their assets. Some foreign companies redomiciled to Russia and began acquiring assets of Russian companies. Russian companies initiated scaling up of their operations and acquiring shares in withdrawing companies. In this respect, prior consent from competent authorities is often required for transactions.

If a transaction was concluded without the consent of the competent authority, FAS Russia may impose an administrative fine and file a lawsuit to have a transaction lack the prior consent of the antimonopoly authority invalidated.

BGP Litigation offers support in obtaining prior consent from FAS Russia:

• for transactions involving shares (stakes), property of commercial organisations, rights in relation to these (including transactions with shares (stakes) in a company engaged in strategic activities, by a foreign investor) or subsequent notification of their implementation;
• transactions involving creation and reorganisation of commercial organisations;
• conclusion of joint activity agreements;
• obtaining prior consent for or verification of compliance with the requirements of the antimonopoly legislation by a draft agreement on joint activities between competing entities; and
• transactions with shares (stakes) in, assets of financial institutions and rights in respect of financial institutions.
• BGP Litigation team also works to obtain preliminary consent of the Russian Government Commission for Control over Foreign Investment and its subcommittee on transactions, liaise with public authorities during consideration of petitions, applications and notifications (in response to additional enquiries, obtaining the original decision).