Ukroboronprom, the state-owned arms conglomerate, has announced that it is ready to take over Motor Sich.

Tuesday, March 23, 2021

Ukroboronprom’s Chief Yuri Gusev said, “I consider the preservation of Ukrainian Motor Sich a matter of national security. Ukroboronprom has already sent a letter to ARMA about its readiness to act as a subject of asset management of Motor Sich Joint Stock Company in order to preserve its potential. For us, as a state defense concern, it is important that Motor Sich “continued its work: with the preservation of jobs, with the fulfillment of obligations within the framework of production orders. Our team is ready to support the enterprise.”

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In March, Ukraine’s Ministry of Finance tapped UAH 31 billion or USD 1.1 billion in the domestic bond market in local and hard currencies,

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Motor Sich was a blue chip company with top-2 free float and has been operating as a private firm since 2000, after the successful privatization in 1994.

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