The Board of Directors of United Aircraft Corporation (UAC) decided to consider the possibility of approving the sale of UAC’s share in Ilyushin Finance & Co. (IFC) to Vnesheconombank (VEB) in the network of extraordinary general meeting of the shareholders, Kommersant reports.
According to UAC, the meeting will be held on December 29th 2014. In case of approving the deal, VEB will purchase 78,6% share in IFC and will become its only owner: VEB Capital already owns 21,4% of IFC shares. According to SPARK-Interfax, controlling block of IFC’s shares (48,4%) is owned by UAC. The shares of IFC are also owned by Alexander Lebedev’s companies (around 5,5%) as well as some other minority shareholders.
We remind you that the Federal Antimonopoly Service approved the purchase of 78,61% of IFC’s voting shares by VEB in June. It was reported that the deal is aimed at “selling non-core assets in order to optimize the activities and structure of UAC”; the obtained funds will be used for development of Sukhoi Civil Aircraft Company (SCAC) – manufacturer of Sukhoi SuperJet 100 aircraft. It was reported earlier that UAC might earn over 8.7 billion rubles by selling the shares.
