Chinese investors in Ukraine’s Motor Sich vow to uphold their legal rights

Business & Economy November 09, 2022, 14:12

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

BEIJING, November 9. /TASS/. Chinese investors in Ukraine’s Motor Sich are waveringly bent on not surrendering their rights, the company’s representative said in a statement on WeChat on Wednesday.

"We will continue to actively communicate with all parties in various ways, and we will never give up the fight to protect our rights legally. At the same time, we will use all legal methods to protect all of our legal rights at all times, vigorously and unequivocally," the statement 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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