The Ministry of Finance has developed amendments on the pre-emptive right to buy shares of strategic JSCs from foreigners
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The Ministry of Finance plans to give the state a pre-emptive right to buy shares in strategic joint-stock companies owned by foreign companies leaving the Russian market. To do this, the department has developed amendments to the current presidential decree, said Interfax with reference to sources. The Ministry of Finance confirmed that such a project had been developed, and also reported that it had already been sent to the government.
As the interlocutor of Interfax said, the Ministry of Finance wants to amend the presidential decree of August 5, 2022 No. 520 “On the application of special economic measures.” The amendments will make it possible to implement the idea of giving the state a pre-emptive right to purchase assets from which foreigners leave the market in relation to strategic companies. Scroll such joint-stock companies was approved by presidential decree in 2004. It has 549 strategic AOs.
It also includes both 100% state-owned companies and enterprises for which the pre-emptive right to buy from non-residents is irrelevant, as well as companies and banks whose shares are traded on the market: Rosneft, Gazprom, VTB, ALROSA, Aeroflot , Transneft, Inter RAO, Rosseti, Sovcomflot, Rostelecom, NCSP, RusHydro.
In April of this year, at a meeting on the strategy of working with foreign assets, the president instructed by July 15 to develop a scheme for granting the state, represented by the Federal Property Management Agency, the pre-emptive right to purchase assets sold by foreigners “at a significant discount for subsequent sale at a market price and transfer of funds received to the federal budget.”
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