In April 2012 we conducted our sixth bi-annual Capital Confidence Barometer, a regular survey of senior executives from international and national companies. The previous survey was held in October 2011.

Below is a snapshot of the survey key findings in Russia:

• After the elections, Russian respondents are more optimistic about local economic conditions.
• More Russian executives are willing to expand their workforce.
• At the same time, less Russian companies intend to pursue M&A deals, with more companies focusing on organic growth. The reluctance to engage in M&A reflects a similar sentiment among respondents to the global survey. This is largely due to persisting skepticism about global financial conditions.
• Debt remains the primary source of acquisition funding, although Russian respondents' confidence in credit availability is declining.
• Russian respondents are less likely to make divestments over the next year than global respondents.

	Alexei Ivanov Partner, CIS Transaction Advisory Services Leader
	Davron Rustamkulov Partner, CIS M&A Leader

The current M&A landscape:

Economic outlook

Access to capital

Growth

Mergers and acquisitions Outlook

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