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Rostec sells minority stake in Russian Helicopters by Richard Tomkins Moscow (UPI) Mar 7, 2017
The Russian Direct Investment Fund and unidentified Arab investors are buying a 12 percent stake in Russian Helicopters, a Rostec subsidiary. Rostec, a state-owned organization, said the Russian Helicopters valuation was estimated at $2.35 billion and that the transaction agreed upon Monday comes in two stages. The first stage involves the sale of a 12 percent stake and an investment of $300 million. The agreement includes a potential subsequent investment increase to $600 million. The deal will increase the authorized capital of the holding company. These funds are necessary for the implementation of the company's strategy and business plan, including the development of new types of helicopters, Rostec said. The funds will also help in the implementation of the investment program of the holding company, as well as finance possible merger and acquisition activities. "Russian Helicopters has established itself as one of the world's leading helicopter manufacturers with a growing presence in key emerging markets," said Kirill Dmitriev, chief executive officer of the Russian Direct Investment Fund. "The RDIF consortium's investment in Russian Helicopters will enable the company to continue its expansion into new markets, particularly in the Middle East, thanks to the participation of our partners from the region. Russian Helicopters is an attractive long-term investment opportunity with significant growth potential growth potential." "Russian Helicopters aims to strengthen its position as a leader in the global helicopter market through the continued development of new products, the provision of a leading after-sales service and a focus on expanding operations into new emerging markets," Andrey Boginsky, chief executive officer of Russian Helicopters, said. "The consortium of investors, led by RDIF, will allow us to accelerate the implementation of our growth strategy." Russian Helicopters was founded in 2007. It has five production facilities, two design bureaus, and a spare parts production and repair facility, as well as an after-sale service branch.
Rome (UPI) Feb 21, 2017 Leonardo delivered its first NH90 Maritime - Italian Navy Tactical Transport helicopter during a ceremony held at Luni Naval Base. The delivery marks the first of ten scheduled for the Italian navy, which designated the aircraft as MH-90. Leonardo flight-tested and designed the aircraft from its Venice-Tessera facility. The NH90 Maritime - Italian Navy Tactical Transport, or MITT ... read more Related Links Aerospace News at SpaceMart.com
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