Our Bureau
09:24 AM, June 3, 2014
Rostec Mulling Over Potential AgustaWestland Merger

Rostec has offered a 25% share of the share exchange of helicopter companies to the Italian company AgustaWestland, the company said in a statement. 

The potential consolidation will result in the company becoming the largest helicopter manufacturer in the world. 

Denis Manturov, Minister of Industry and Trade of the Russian Federation, noted as far back as February 2013 that the Ministry was considering the possibility of attracting a strategic partner for Russian Helicopters. According to the Minister, this possibility was considered along with IPO, and it would take a year and a half or two years to attract a strategic partner. 

The Russian Helicopters holding company actively cooperates with AgustaWestland on the AW-139 helicopter, which could be seen at the HeliRussia-2014 International Helicopter Exhibition, as well as in the joint development of a light helicopter of up to 2.5 tons, the statement added. Rostec conducted negotiations with AgustaWestland about strategic partnership at the MAKS-2013 International Aviation and Space Salon. 

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