The forum discussed key trends in 2025: from the macroeconomic forecast to the use of AI in consulting. Experts from Advance Capital, Aspring Capital, VTB, Sberbank, Ozon and other companies discussed the investment landscape, new tools in the financial sector and the challenges of personnel shortages in industries.

 

From the discussions in our session, I would highlight the key takeaways:

 

• The dominant applicable law in transactions has become Russian law. Accordingly, the methods of protecting the parties are also structured according to Russian law, for which it is necessary to take into account its features.

• While assurances about the circumstances are still the most popular and common tool to protect the buyer in M&A transactions, real protection in litigation is difficult to obtain.

• Among the tools that have become more often used as part of structuring transactions, options/option contracts should be highlighted. The party to the M&A transaction is increasingly becoming a closed-end mutual fund, which allows to reduce sanctions risks, and is also a tool for tax optimization.

• There are expectations of greater interest in transactions on the structure of joint ventures, in particular, with friendly foreign investors (in comparison with previous years).

• In most cases, transactions are financed according to a hybrid model by attracting equity and debt financing.

• In general, there is a reduction in the terms for making business decisions, terms for verification and transactions. But here it is quite difficult to talk about general trends in "simplification.

- Valerian noted on the results of the session moderation.