OREANDA-NEWS. March 20, 2012. Russian Helicopters, JSC (hereinafter the Company), one of the global leaders in helicopter production, announced today its intent to increase its stake in Ulan-Ude Aviation Plant, JSC (hereinafter UUAP) to 100% through a squeeze-out procedure.

By sending the squeeze-out demand notice to the remaining UUAP minority shareholders, the Company has exercised its right under the Russian law to purchase all remaining UUAP shares not already owned by Russian Helicopters, JSC.

The price has been set at 81,2 RUB based on the opinions confirmed by the report of independent broker Euroexpert as required by the Russian legislation. The Company obtained the necessary approval to initiate the squeeze-out procedure from the Federal Financial Markets Service of Russia.

"By increasing of our stakes in the subsidiaries to 100%, we are implementing an essential stage of a strategy, aimed at optimizing the Company’s management system. Successful completion of this phase will allow us to effectively implement unified standards for business processes, corporate governance, and management decision making and realization principles. Moreover, the consolidation of the remaining minority shares of the subsidiaries at a remunerative price contributes to our main strategic objective - to maximize shareholder value of the Company", - said Russian Helicopters’ CFO Sergei Yarkovoy.

In according with the squeeze-out demand notice the remaining UUAP minority shareholders are recommended to send their claims with banking (or mailing) details to the addresses shown in the notice before March 4, 2012. Payments for the shares will be made within 25 days after the closing of the offer.