A framework is being established to support foreign enterprises operating in Russia, with specific provisions for those who choose to divest their holdings. When asset sales occur, prices are set by an independent valuation expert, ensuring that transaction values reflect market realities rather than discretionary adjustment, according to the press office of the Russian Ministry of Finance.
The government subcommittee overseeing foreign investments emphasizes sustained participation of multinational firms in Russia. Conditions favorable to continuing operations include the ability to distribute dividends and to service internal corporate debts. The ministry’s press office also noted that those selling their businesses were not coerced into accepting lower prices by the subcommittee, underscoring a commitment to market-based valuations.
The Ministry of Finance reiterated that asset assessments for firms choosing to exit are conducted by independent valuation professionals, not by subcommittee members. Only a misjudgment of market value flagged by the commission could trigger an adjustment in the reported value of a business.
Earlier coverage, including Reuters reporting, touched on questions surrounding the pricing practices of the Russian authorities in this context.
Finance Minister Anton Siluanov, in an interview with TASS, described a process in which each foreign exit application is considered on its own merits. Exit conditions for assets are set by presidential directives, with the subcommittee convening two to three times weekly to review cases.
In a related note, the sale of a Russian operation previously occurred when Heineken transferred ownership to the manufacturer Prelest for a nominal €1.