A Chinese aviation investment firm, Skyrizon, also known as Beijing Tianjiao Aviation Industry Investment Company has bid to buy a controlling stake in renowned Ukrainian aero-engine manufacturer, Motor Sich.
"The Ukrainian company, which has built engines for the world's largest transport aircraft the An-225, could help China boost its aeroengine industry if the deal materializes," Chinese analysts were quoted as saying by Global Times on Sunday.
The US is unhappy about Motor Sich's dealings with China, saying there might be national security risks from foreign investment transactions, the Washington Post reported in May.
The Chinese firm is awaiting the results of the assessment being conducted by the Antimonopoly committee of Ukraine. The results of this assessment will be announced by 22nd of July and if the proceedings go in favour of Skyrizon, it will own more than 50% of Motor Sich.
Established in 1907, the Ukrainian firm produces aircraft engines- turbofans, turboshafts and turboprops.