Zee Beam News

RBC, 05.05.2008, Moscow 13:47:16.– Russian President Vladimir Putin has signed a federal law setting out the procedure for foreign investment in enterprises considered as strategically important to ensure national security, the leader's press office reported. The bill was passed by the State Duma on April 2 and approved by the Federation Council on April 16. The law imposes restrictions on foreign investors or groups of individuals with the participation of foreign capital for carrying out transactions with the shares of strategically important enterprises with a view to acquiring control over such companies. The document stipulates that any deal, which would result in a foreign investor gaining more than 25 percent of voting shares in strategically important enterprises or over 5 percent of voting shares in companies operating fields of federal importance, would be subject to prior approval. An exception would be made for transactions concluded by foreign investors that already held, directly or indirectly, more than 50 percent of voting shares prior to the deal. The bill lists 42 types of activities that are considered to be of strategic importance.