Vertical integration and right of first refusal

The article clarifies the concept of “agricultural holding”, using an approach to assessing the size on the basis of the total revenue of all agricultural organizations within the agricultural holding. It has been revealed that only 100 of the total number of agricultural holdings that were identified can be attributed to large business entities. They comprise about 3% of agricultural organizations in the country, while their share in the proceeds is about 37%. A large share of agricultural holdings — large business subjects under the control of Russian entities operate in one, and under the control of foreign legal entities — in three or more regions of the Russian Federation. Vertical integration within the framework of large agricultural holdings with different schemes for including the stages of processing and sale of products produced in their agricultural organizations allows them to receive advantages. Strengthening the role of large business entities in agriculture puts on the agenda the issue of differentiating approaches to taxation and state support in agriculture, depending on the size of the companies’ agricultural businesses.

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InP-Based Unipolar Heterostructure Diode for Vertical Integration, Level Shifting, and Small Signal Rectification

IEICE Transactions on Electronics ◽

10.1587/transele.e93.c.1309 ◽

2010 ◽

Vol E93-C (8) ◽

pp. 1309-1314

Author(s):

Werner PROST ◽

Dudu ZHANG ◽

Benjamin MÜNSTERMANN ◽

Tobias FELDENGUT ◽

Ralf GEITMANN ◽

...

Keyword(s):

Vertical Integration ◽

Small Signal

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ON CONSTRUCT OF THE RIGHT OF PRE-EMPTION IN RESPECT OF PARTICIPATORY INTEREST (SHARES)

Civil Law Review ◽

10.24031/1992-2043-2020-20-4-94-219 ◽

2020 ◽

Vol 20 (4) ◽

pp. 94-219

Author(s):

I.S. CHUPRUNOV

Keyword(s):

General Rule ◽

Constitutive Theory ◽

Freedom Of Contract ◽

Legal Nature ◽

Public Corporation ◽

Russian Law ◽

Right Of First Refusal ◽

The Right

The paper provides analysis of the legal nature and the mechanism for exercise of the right of pre-emption (right of first refusal) in respect of execution of a contract taking as an example of right of first refusal to purchase a stake in a non-public corporation, and also examines the boundaries of parties’ autonomy and freedom of contract in this area. The author comes to the conclusion that the key elements of the construction of the right of pre-emption are the transformation powers that belong to the right holder. The author also demonstrates that, notwithstanding their dominance in Russian law, the views, which suggest that exercise of the right of pre-emption leads to “transfer of rights and obligations of a purchaser” (the translative theory), should be rejected. These views must be replaced with the constitutive theory, according to which exercise of the right of pre-emption results in a new contract between the right holder and the seller (as a general rule, on the same terms that were agreed between the seller and the purchaser).

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