Aspring Capital releases an overview of the Russian Mergers and Acquisitions (M&A) market for the first half of 2024
September 30, 2024, Moscow – Aspring Capital has released an overview of the Russian Mergers and Acquisitions (M&A) market for the first half of 2024. The report analyses public deals valued at over 1 billion rubles, drawn from the firm’s proprietary database.
By the end of the first half of the year, 86 M&A transactions were completed, with 70% being domestic. This reflects a significant slowdown in the exit of foreign companies from the Russian market. Mid-year saw a spike in M&A activity as companies rushed to close deals before the new tax reform. Aspring Capital’s analysts predict this trend will persist through the second half of 2024.
The majority of deals occurred in the industrial and telecommunications sectors. Noteworthy transactions included the split of Russian companies' businesses into domestic and international segments. For example, Sergei Yanchukov's Mangazeya Group acquired the Russian assets of Polymetal for 335 billion rubles, and MTS completed the sale of its subsidiary, MTS Armenia, to a Cypriot company for 19 billion rubles.
The report also provides insights into the effects of the Central Bank’s interest rate hikes on asset valuations, reviews upcoming tax law changes for 2025, and includes an analysis of the IPO market.
The full report is available for download via the provided link