icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
17 Jun, 2008 11:52

Europe to lose 10% control of jet fighters

The European Aeronautic Defence and Space Company (EADS) will sell its 10% stake in Russia's Irkut plane builder as part of a buyout offer called earlier by the United Aircraft Corporation (UAC). The deal will cost UAC around $US90 million.

EADS had previously said it would convert its Irkut stake into shares in UAC, when the Russian state-controlled aerospace holding was set up last year.

UAC has offered to purchase Irkut stock in an attempt to net 49.9% of the company's charter capital in March 2008. Irkut shareholders will be able to swap their shares for UAC shares from a supplementary issue.

UAC owns 50.09% of Irkut shares. 38.22% are contributed by private shareholders and 11.89% are held by Sukhoi.

Irkut builds Sukhoi jet fighters for export to Asian countries.

Podcasts
0:00
23:13
0:00
25:0