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Deal Drivers Russia

April 2009 - Finance. Legal Developments by CMS Group.

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A survey and review of Russian corporate finance activity

2008 was a momentous year for M&A in Russia with the first decline in the number of deals concluded for at least four years. The bull market was never going to last forever, but the decline was much sharper than many had considered. In 2007 deals were concluded at a rate of almost one a day, with a combined value of close to €80bn. In 2008 the number of deals was down a quarter, whilst the value of those deals collapsed by half. Indeed the decline is even more stark when you consider that in Q1 and Q2 of 2008, the deal flow was up on the same period in the preceding year – with the second half of 2008 showing a dramatic fall.


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