The sale of UAC’s (United Aircraft Corporation) share in IFC (Ilyushin Finance & Co. leasing company) to Vnesheconombank (VEB) has been approved at an extraordinary general meeting of shareholders, Abireg reports with reference to the corporation.

We remind you that the deal is aimed at selling UAC’s non-core assets; the obtained funds will be used for development of Sukhoi Civil Aircraft Company (SCAC) – manufacturer of Sukhoi SuperJet 100 aircraft. The Federal Antimonopoly Service approved the purchase of 78,6% of IFC’s shares by VEB in June.

Assuming that VEB Capital already owns 21,39% of IFC’s shares, VEB would have become the owner of 100% of the lessor’s shares. The official decree on selling UAC’s share in IFC (48,4%) to Vnesheconombank was signed by the Chairman of the Russian government, Dmitry Medvedev, in April 2014.

However, it was reported in autumn that UAC might sell 48,4% of IFC’s shares to a third-party investor instead of VEB. Looks like this opportunity is no longer considered.

It was reported earlier that book value of the IFC’s shares owned by UAC is 8,7 billion rubles (66,8 thousand rubles per share). Nominal value of one IFC’s share is 55,6 thousand rubles.