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US approves Sea Launch acquisition by S7 Group — source

August 04, 20:38 UTC+3 MOSCOW

In late September 2016, Russia’s S7 Group signed a contract with Sea Launch Group on the project’s acquisition

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MOSCOW, August 4. /TASS/. The Committee on Foreign Investment in the United States (CFIUS) approved the deal on acquisition of Sea Launch complex by Russia’s S7 Group, a source in the rocket and space industry told TASS on Friday.

"The deal approval was received this week," the source said.

S7 Group made no comment regarding that information.

The Sea Launch is an international commercial project of the seaborne rocket and space complex. Sea Launch Company was established in 1995 for the project’s implementation. Its founders included US Boeing, Russia’s Energiya Corporation, the Norwegian shipyard Kvaerner (currently Aker Solutions), Ukraine’s Yuzhnoye design bureau and the Ukrainian Yuzhmash rocket and space enterprise. Sea Launch Company declared its bankruptcy in the summer of 2009 and after its reorganization in 2010 Russia’s Energiya Corporation gained the leading role in the project. Space launches were suspended in 2014.

In late September 2016, Russia’s S7 Group signed a contract with Sea Launch Group on the project’s acquisition. Space launches from the floating spaceport are expected to restart in 2018. A total of 10-12 launches are expected to be conducted under the project during the first five years.

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