PRESS: UAC can sell 50% of 100 bln rbl civil aviation business

MOSCOW, Jun 3 (PRIME) -- The Sukhoi Civil Aircraft business was valued at 44.8 billion rubles and Irkut at 56.8 billion rubles ahead of a merger of the civil producers of United Aircraft Corporation (UAC) with the aim of selling a controlling stake, business daily Vedomosti reported Monday, citing a source in the industry.

The stake will be sold to a state bank, and later to private investors to sidestep the Western sanctions slapped on UAC.

“The key contenders for the capital are Sberbank, VTB and VEB.RF. There are negotiations with them,” a source close to UAC said.

A representative of UAC said that the valuation was made by an independent firm “taking into account the financials and plans of the companies.”

(65.3834 rubles – U.S. $1)

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