Sukhoi Civil Aircraft (Zhukovsky) parent, the United Aircraft Corporation (UAC), has been given the go-ahead by the Russian government to dispose of a 48.4% stake in lessor the Ilyushin Finance Co.
The Kommersant says the buyer is another state-backed entity namely Russia's development bank, Vnesheconombank (VEB bank).
The exact value of the transaction has not yet been disclosed given that a current evaluation of the shares has yet to be undertaken. The Kremlin has instructed that shares, originally valued at RUB8billion+ (USD235million+), are not to be sold at below market value.
The IFC is a primary backer of the Sukhoi Civil Aircraft (Zhukovsky) SSJ 100/95 and the Irkut MC21 regional jet programmes.
