A sign displays foreign currency exchange rates to the Russian ruble in the window of a branch of Fora-bank JSC in Moscow, Russia, on Feb. 28, 2022. Photo: Andrey Rudakov/Bloomberg
After a few weeks of slower activity, last week brought a number of large M&A deals. But at the same time, concerns over Russia’s invasion of Ukraine and the economic fallout that follows are causing some concerns for cross-border deals in Europe. It is also causing some law firms to reevaluate their relationships with Russian businesses.
There were nine deals over $1 billion last week, triple the previous weekly amounts covered by Deal Watch in 2022. Four of those deals were over $5 billion. While the news is welcome, some headwinds approach.
