Our Bureau
09:06 AM, March 11, 2016
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Russian Helicopters

Rostec Corporation is planning to sell a stake in its rotorcraft designer and manufacturer Russian Helicopters to the Mubadala foundation of Abu Dhabi.

Officials from Rostec and Mubadala foundation are currently in talks to sell the stake, head of Rostec Sergey Chemezov told TASS today.

"We held talks with Mubadala. Recently Industry and Trade Minister Denis Manturov was on a business trip in the UAE, met them and discussed this topic," Chemezov said.

TASS has reported earlier that Rostec plans to sell a 49% stake in Russian Helicopters. The corporation plans to maintain the control over the company after the sale of the stake.

Earlier this month, Industry and Trade Minister Denis Manturov said that the stake may be sold already this year. According to him, Rostec plans either to sell the whole stake to a strategic investor in Russia or to sell 25% to a foreign investor.

According to Chemezov, the Russian Direct Investments Fund (RDIF), which is a partner of Mubadala, may take part in the deal.

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