GCC investors buy stake in Russian Helicopters

Russian HelicoptersA consortium set up between the Russian Direct Investment Fund (RDIF) and a group of GCC investors has bought a 12% stake in Russian Helicopters, it announced yesterday. The deal entails an up-front investment of $300m with a further $600m to follow at a later date.
The cash injection will principally be used for new helicopter development and acquisitions. “Russian Helicopters aims to strengthen its position as a leader in the global helicopter market through the continued development of new products, the provision of a leading after-sales service and a focus on expanding operations into new emerging markets,” Russian Helicopters CEO Andrey Boginsky said of the deal. “The consortium…..will allow us to accelerate the implementation of our growth strategy.” 
Russian Helicopters CEO Andrey BoginskyEstablished in 2007 and placed under the auspices of the Rostec state holding company, Russian Helicopters was created to bring all the country’s helicopter-related activities under one roof, from aircraft and component manufacturing to after-sales equipment maintenance. With a 40,000-strong workforce. it also undertakes scientific research and experimental design work at the Mil Moscow Helicopter Plant and the Kamov Design Bureau. 
The RDIF was set up by the Russian government in 2011 with $10bn and a remit to make equity investments in high-growth sectors of the economy, and has since then secured more than $25bn in investment through long-term international strategic partnerships, many of which involve sovereign wealth funds based in Kuwait, Qatar, the UAE, Bahrain and Saudi Arabia. 

Source: tradearabia