17:32 GMT +322 October 2018
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    Russia in Talks With UAE on Sale of Shares in Russian Helicopters Company

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    Russia’s state technologies corporation Rostec is in talks with UAE's Mubadala Development company on the issue of the sale of shares in its subsidiary, the manufacturer Russian Helicopters, Rostec's head Sergei Chemezov said.

    MOSCOW (Sputnik) — On Thursday, Russian Trade Minister Denis Manturov said that Moscow would partially privatize the Russian helicopters holding in 2016, and was planning to sell up to 49 percent of shares to a Russian strategic investor or up to 25 percent to a investor from abroad.

    "With regard to Russian Helicopters, for example, we are holding discussions with Mubadala Development Co. in the United Arab Emirates. They are looking seriously at the possibility of buying a share [stake], not 49% but maybe 20% or 25%," Chemezov said in an interview with The Wall Street Journal published on Thursday.

    He added that Rostec could sell a stake not only in Russian Helicopters, but also in the small-arms manufacturer Kalashnikov and the Radio-Electronic Technologies Concern (KRET).

    Russian Helicopters is a leading helicopter design and manufacturing company, which is part of the Rostec umbrella organization.

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    Tags:
    Russian Helicopters, Rostec, Sergei Chemezov, UAE, Russia
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