
27.03.09

Special Quarterly Analytical Edition, Q2, 2009
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Welcome from Alinga!
An interesting repercussion of the crisis is that Russia's markets are now some of the cheapest in the world for stocks, assets, or buying companies outright. While Mergers & Acquisitions in Russia will likely be much lower than in previous years, they are something that well-positioned companies should be considering. Therefore, we've focused this month on Mergers & Acquisitions in Russia.
Our quarterly print edition is a double this quarter – focusing on both M&A in Russia and issues of foreigners in Russia. It is available for download (pdf, 5 MB) here. If you would like to subscribe to this free publication, write to us and let us know!
We'd also love to hear from you if you have comments on the crisis, on being a foreigner working or living in Russia or if you have any questions or comments on our publications or services. To subscribe to this electronic version of this newsletter, send an email with "Subscribe Alinga" in the subject field to jwilson@acg.ru.

Review Of Recent Changes To Tax-Related Legislation In The Russian Federation
This monthly Russian-language service from Alinga and regular feature of the Alinga Market Update is designed to bring your financial personnel a broad view of recent changes to the Russian Tax Code. Forward this link to them!
Financial Due Diligence For M&A In Russia
With the financial crisis raging outside, many companies are facing financial crises internally. For some, finding a strategic investor might be the only way to stay afloat. For those who have avoided the worst of the crisis and have the means, however, now can be a great time to become a strategic investor or even purchase competing companies while market prices are down.
Financial And Tax Reporting For Corporate Mergers In Russia
Russia's Civil Code defines a merger as a form of corporate reorganization whereby the rights and obligations of each participant are transferred to a new company. As a result of the merger, the operations of the reorganized companies are continued by a newly formed company, and the reorganized companies themselves simply cease to exist.
Who's Irritating Russia's Tax Collectors?
The Russian government needs money, and in times of crisis its Federal Tax Service (known as the "FNS" in Russian) will search particularly industriously for extra ways to fill their coffers. One of the most popular ways to collect is by adding extra tax burdens to businesses.

NGOs and Power Ministries in Russia
The Journal of Power Institutions in Post-Soviet States in its latest publication takes a look at the relationship NGOs have with those ministries.
Global Trends in NGO Law
This new publication from The International Center for Not-for-Profit gives a quick update on how various governments, including Russia's and those in Central Asia, relate to NGOs in their countries.
Dewey & LeBoeuf LLP Russian Laws Newsletter
A review of major business legislation passed in Russia and taking affect in the first part of 2009.
Cultural Tour of Russia
See Russia as you never have before with Alinga partner company The School of Russian and Asian Studies ! Eat a home-cooked meal with Russians in their home. Create traditional painted porcelain under a Russian master. Sit in banyas and celebrate life with Russians who will show you how to sing, make toasts, relax, and laugh.

The Post-Merger Integration Process: The "Russia" Factor
In Russia, there are integration issues that apply to companies of all sizes and sectors. Indeed, these same issues also apply to those establishing a new business in Russia. The areas we will focus on are knowledge sharing, customer orientation, management, legal advising, and financial reporting.
The Russian Economy in Crisis
This issue of the Russian Analytical Digest addresses the impact of the global crisis on Russia. Specifically, it examines the country's oil industry and its currency policy. Additionally, this issue presents statistics on oil prices and other economic and social indicators.
Economy, Politics, and Society
This latest installment of Policy Matters, a free publication from The PBN Company, gives a succinct, fact-heavy, objective overview of Russian political and economic developments since the New Year.
IPO Pioneers 4
An analyses and review of 2008 Russia and CIS IPOs. Available from the PBN Company site – requires a short form to be filled out to access.
IFRS in America
The full English-language version article originally appeared in Strategic Finance Magazine, September 2008. Alinga Consulting Group has obtained rights to offer a Russian translation of this and other articles for the benefit of your Russian-speaking auditors and accountants. Forward this link to them!
Have questions on any issue above? Ask the Expert!
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