The recent announcement by Hexion Specialty Chemicals Inc. that it would form a partnership with Russia-based industrial chemical manufacturer OAO Shchekinoazot has called fresh attention to the opportunities posed by Russian investment. Mergers and acquisitions of Russian companies by non- Russian entities are booming as well. A study by KPMG indicates that inbound M&A in Russia soared to almost US$8.5 billion in 2006. However, non-Russian companies seeking acquisition of a Russian enterprise may find that the country’s current legal and business environment poses numerous challenges to their plans.

In an article recently published by Corporate UK magazine, David M. Wack, partner in Squire Sanders’ Moscow office, describes these roadblocks and outlines the judicial, legislative and regulatory steps that may be required to smooth the way. His article can be found at