Retail chains will facilitate the purchase of shares from foreign owners

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AK&M 18 May 2022 16:36

Retail chains will make it easier to buy shares from foreign owners. The Government of the Russian Federation until the beginning of 2023 will temporarily suspend the restriction for retail chains, according to which one company cannot account for more than 25% of the turnover in a certain territory. This was announced by the Cabinet of Ministers.

"In the current conditions, such a barrier can hinder the operational restructuring of the business. Lead to temporary difficulties in various commodity markets," said Mikhail Mishustin, Chairman of the Government of the Russian Federation, quoted in the message.

The solution will simplify property transactions and support entrepreneurs who want to expand their business at the expense of assets that have appeared on the market. In addition, it will allow to preserve the teams of companies if foreign owners decide to close their business in Russia.