Western companies have lost more than $80 billion in Russia.
Moscow already demands a 50% discount on all foreign deals after consultants selected by the Russian government have valued the business.But three people familiar with the exit process for foreign companies said that some deals are facing demands for additional discounts before the government gives a green light.The Russian finance ministry said it does not force final sales prices to be cut, but it may adjust valuations during the sales process.
The economy ministry and central bank also appraise businesses and may also make a "correction" to a price, it said. A financial market source working with companies seeking to leave Russia said the commission was sending some deals back, saying the valuation should be 20-30% lower.Another person, who works on M&A transactions and with foreign companies, said deals exceeding $100 million were at particular risk of being denied.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia launches 3-hour drone attack on Odesa as Ukrainian drones target Moscow againRussia and Ukraine traded drone attacks early Wednesday, officials said, with Kyiv apparently targeting Moscow again and the Kremlin’s forces launching another bombardment of Ukrainian grain storage depots in what have recently become signature tactics in the almost 18-month war.
Read more »
Russia launches 3-hour drone attack on Odesa as Ukrainian drones target Moscow againRussia and Ukraine trade drone attacks, with Kyiv apparently targeting Moscow and the Kremlin's forces bombarding Ukrainian grain storage depots.
Read more »
Russia says drone attack on Moscow thwarted, 3 killed near UkraineThe attempted attack in Moscow was the latest in a surge of similar incidents, and once again forced Moscow’s airports to briefly suspend flights as a precaution.
Read more »
Russia downs 3 drones over Moscow, in 6th straight day of attacksRussia said it shot down three Ukrainian drones flying toward Moscow and its surrounding regions on Wednesday, in the sixth consecutive day of atta...
Read more »
Russia says Ukraine fired missile towards Moscow, hit Crimea with dronesRussia said on Friday that Ukraine had fired a missile towards Moscow and attacked the Crimean Peninsula with 42 drones, one of the biggest known coordinated Ukrainian air attacks to date on Russian-held territory.
Read more »
How Russia keeps its fleet of Western jets in the airA Ural Airlines Airbus landed in the Russian city of Yekaterinburg on Nov. 14 last year. Then it remained grounded on the tarmac.
Read more »