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Italian helicopter manufacturer interested in stake of Russian Helicopters — Rostec

Investors from Southeast Asia could participate in privatization of Russian Helicopters as well

© Marina Lystseva/TASS

SOCHI, May 19. /TASS/. An Italian helicopter manufacturer is interested in buying a stake in Russian Helicopters, Deputy CEO of Rostec (100% owner of Russian Helicopters) Nikolay Volobuev said on Thursday on the sidelines of the Russia-ASEAN Business Forum.

"The Italians showed interest - their famous helicopter company that has joint developments with us and even joint productions. At the same time, the question of whether to allow foreigners to participate in the process has yet to be resolved," he said.

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Foreign customers received over 1,800 Russian-made military helicopters in 1991-2014

At the same time, according to Volobuev, investors from Southeast Asia could participate in privatization of Russian Helicopters.

"In theory - yes. But we have not yet formed our position," he said, answering the question about the possibility of investors from Southeast Asia participating in the company’s privatization.

"The issue of foreign companies participating in the sale of Russian Helicopters shares is being discussed," he said.

Volobuev added that the Russian government has not yet agreed on selling the assets. So far, companies only talked about being interested, he said.

At the moment two options for the privatization of Russian Helicopters are being considered - selling up to 49% of the company’s shares to Russian strategic investor, or selling 25% to foreign investor.

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Head of Rostec Sergey Chemezov told TASS earlier that he expected the deal to be closed by the end of 2016. Although, he expressed doubt about the need to sell 49% of the company’s shares at once.

Economic Development Minister Alexei Ulyukayev said earlier that European Airbus concern was interested in the company’s privatization, although the company later denied this information. Rostec Head Sergey Chemezov said that there were no talks with Airbus on this topic.

Russian Helicopters is among global leaders in helicopter production industry and the only developer and producer of helicopters in Russia. The holding comprises five helicopter manufacturing plants, two design bureaus, component production and maintenance companies, helicopter repair plants and a service company for after-sales support in Russia and overseas.

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