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Chinese investors in Ukraine’s Motor Sich oppose company’s nationalization

In 2016, 56% of the shares of Motor Sich, one of the largest manufacturers of engines for aircraft and industrial gas turbines, were sold to a Chinese investor, but the deal was blocked by the Ukrainian authorities

BEIJING, November 9. /TASS/. Chinese investors in Motor Sich, a Ukrainian company, oppose the compulsory nationalization of the company's assets, a corporate representative said in a statement on WeChat on Wednesday.

"We have always strongly opposed the criminal actions of Ukraine regarding the abuse of state power, substituting the concept of national security, muddying the truth with lies and the suppression of the normal business activities of enterprises," the statement said.

"We strongly oppose the shameless behavior of Ukraine regarding the politicization of normal business conduct, the compulsory nationalization of Motor Sich PJSC, and the unjustified plunder of the legitimate rights and interests of Chinese investors," the representative said.

In 2016, 56% of the shares of Motor Sich, one of the largest manufacturers of engines for aircraft and industrial gas turbines, were sold to a Chinese investor, but the deal was blocked by the Ukrainian authorities.

Earlier, the National Securities and Stock Market Commission of Ukraine published a resolution on the forced alienation of the shares of Ukrnafta, Ukrtatnafta, Motor Sich, AvtoKrAZ, and Zaporizhtransformator into state ownership. Secretary of the National Security and Defense Council of Ukraine Aleksey Danilov said that strategic Ukrainian enterprises such as Ukrnafta and Motor Sich were transferred to the control of the country's defense ministry.

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