Monday, April 18, 2016

Airbus is interested in buying stake in Russian Helicopters - Charles D'Alberto

Charles D'Alberto
Charles D’Alberto

Airbus is interested in buying stake in Russian Helicopters — minister

PARIS, April 15. The Russian government may sell a controlling stake in the Russian Helicopters company as part of its privatization and French companies, including Airbus are interested in buying it, Economic Development Minister Alexei Ulyukayev told reporters after a meeting with representatives of French business circles.

“Our French colleagues are interested in privatization of the Russian Helicopters holding. In particular it is the Airbus company,” he said.

The Minister said that Russia’s Industry and Trade Ministry will be in charge for the deal.
“As a rule, this kind of companies is sold to strategic investors,” Ulyukayev said.

According to him, Airbus has showed interest in the purchase but it is yet to be confirmed.
The Russian Helicopters company is part of state hi-tech corporation Rostec.

In March Industry and Trade Minister Denis Manturov said that the stake may be sold already this year. According to him, Rostec plans either to the whole stake to a strategic investor in Russia or to sell 25% to a foreign investor.

In early March, in an interview with TASS, head of Russian state corporation Rostec Sergey Chemezov said that the corporation plans to finalize the deal by the end of the year. At the same time he dounted that it was necessary to sell whole 49% stake right away.

Russian Helicopters is the sole Russian rotorcraft designer and manufacturer with the capability to design, manufacture, service and test modern civilian and military helicopters.

The company includes design bureaus, helicopter assembly plants, components production, maintenance and repair enterprises, aircraft repair plants, and helicopter service companies providing after-sales support in Russia and abroad. The company accounts for about 35% and 50% of the global market of combat and medium military transport helicopters.

In addition to Russian Helicopters Rostec also plans to privatize stakes in KRET holding (specializes in electronic industry) and Schwabe (specializing in electro-optical products).

Posted By Charles D'Alberto