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Mergers and Acquisitions market of Russian Federation
As experts have estimated research division Thomson Reuters - Deals Intelligence, - with the beginning of the year in the Russian market has been announced or carried out 2,2 thousand mergers or acquisitions worth $ 45 billion Compared with last year the volume of transactions in the Russian segment of the market grew by 153%. I
Показать всеn sum, this volume is more than half of the total volume of transactions in Eastern Europe - $ 71.6 billion In the second place in terms of M & A are Poland ($ 11.2 billion), the third - Turkey ($ 9.8 billion). The most significant contribution to the sharp rise in the Russian market made the company "Polyus Gold" and KazakhGold, in late June announced a merger by exchange of shares. As a result of this transaction will create a company with a market capitalization of $ 10,2-11 billion The list included the largest and the acquisition of Lukoil's own shares from the American company ConocoPhillips. Analysts at the agency evaluated them in the $ 9 billion (20%), although it is a Russian oil company has acquired only about 15% of the shares. Deals Intelligence experts have taken into account in the rankings and pledged but not yet completed the deal to join the Rostelecom five inter-regional communication companies (a total of $ 9 billion) .
The high performance of the Russian segment of the market M & A in comparison with other countries in Eastern Europe experts associated with higher financial capacity of Russian companies. According to partner UFG Wealth Management Oksana Kuchura, "the rest of Eastern Europe, with the exception of Poland, is a mini-Greece, which for the sake of survival goes to the unpopular measures - tax increases and cuts in social spending. In this case, the companies simply do not have money to spend expansion ". In her words, Russian companies by reducing the capital and other expenditures during the crisis, gained sufficient liquidity, which now goes to mergers and acquisitions. As before, among the intermediary bank M & A transactions in the Russian market leading foreign investment banks. After three quarters of first place the U.S. Morgan Stanley, who took part in the 14 announced or completed transactions totaling $ 11.6 billion In second place is another American financial companies - BMO Capital Markets (on $ 11.3 billion), followed by Britain's HSBC and American JP Morgan and Goldman Sachs./ Span
Moreover, as estimated by experts Deals Intelligence, were leading Russian issuers and the Eurobond market. The total amount of bonds, including government, from the beginning of the year totaled $ 29.2 billion, that in 3,6 times more than a year ago. However, in 2009 Russian issuers almost no access to foreign markets, while Eastern Europe is actively borrow. Since that this jump is largely determined by low "initial conditions". But in the market to attract equity capital, Russian companies were losing to their competitors abroad. Since early this year by companies from Russia had issue shares worth $ 7.6 billion, which is one third less than last year. Leader remains Rusal, implemented in January this year IPO worth $ 2.2 billion Positive trend for these sectors was the fact that Russian companies and banks have become major players in this market. Thus, the most actively involved in debt this year's program of VTB Capital (amounting to $ 4.1 billion). Foreign banks Citigroup ($ 3 billion) and Barclays Capital (to $ 2.9 billion) remained in second and third places respectively. The largest organized placements by Russian companies, according to the Deals Intelligence, this year is "Renaissance Capital" (worth $ 709 million), VTB Capital (in $ 478 million) and Sberbank (at $ 280 million), writes Kommersant.
Most civilized transactions in Russian
The M&A market is found relevant in lots of countries including Russia. The other day the informational agency Bloomberg published its traditional annual market research across the globe. A bit earlier, in the middle of November, the third annual national forum Mergers and Acquisitions of Russia took place. The research results determined the rating of the most civilized transactions at the M&A market .
Western M&A markets got used to mergers prevailing over acquisitions, but as for the Russian part, here acquisitions form the major share of dealings. No wonder that record high rates of transactions’ number ($3.1tr in the world and $52-57bn in Russia) have generated a need to conduct an audit for quality of transactions in the RF. The “quality” implies conformance of transactions to world standards. 20 deals made at the Russian M&A market were found corresponding high corporate standards. According to the survey results they beneficially affected the economy of the country. Here’s the list of the most successful and significant transactions:
Russian Aluminum – SUAL – Glencore
Experts gave the top position to the recent merger of Russian and foreign aluminum companies – Russian Aluminum (Rusal), SUAL and Glencore. Rusal controls a wide range of plants dealing with aluminum processing. August 2006 Rusal started repurchase of its own stock in view of upcoming merger with SUAL and Swiss Glencore. The companies merged October 9. Rusal’s share in the joint company made up 66%, SUAL’s – 22%, Glencore’s – 12%.
Guta Group – Factory Krasny Oktyabr (Red October)
The second from the top is Guta Group with its project of the factory Krasny Octyabr’s transfer from the Swamp Island located in the center of Moscow to the territory of the business concern Babayevsky. Both the factory and the concern are the leading sweet and chocolate manufacturers in the RF. The biennial transfer project started in 2005 in the framework of the programs Golden Island and Reorganization and Development of Industrial Areas conducted by the Moscow government. 150 thousand square meters of dwelling space are planned to be constructed at the factory’s former territory. The total volume of investments put in the project exceeds $500 million.
August 2005 the holding Basic Element dealing with machinery, natural resources, power, financial services, construction and development, purchased the controlling stake of the Moscow property developer Razvitiye. Experts believe that the company will definitely occupy one of the leading positions at the real estate market. Today Basic Element is investing $1bn in housing construction in the Moscow Region.
Private investors – Krasin pencil factory (Moscow)
The last positions in the list are occupied by private investors, who bought the pencil factory and took all production facilities to the territory of the plant Mosgormash. All employment positions have been held. A developer project is being implemented at the factory’s former territory these days.
Unfortunately, Russian M&A market still can’t meet the requirements of world standards. At the same time more and more companies introduce their stock to the foreign Exchanges. In this case transparency and scrupulousness of business play a great role. Скрыть
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