VEB Purchases Sukhoi Company's Block of Shares
OREANDA-NEWS. In pursuance of instructions given by the Russian President and the Russian Government on stabilizing the financial position of the Sukhoi Civil Aircraft Company (CJSC) on August 28, 2014, Vnesheconombank purchased 10 234 199 shares of the Sukhoi Company (OJSC) as part of conducting an additional issue of shares.
The sum of the transaction was about 25 billion rubles. The Sukhoi Company (OJSC) used this sum to increase its participation in the capital of the Sukhoi Civil Aircraft Company (CJSC). This will allow the Sukhoi Civil Aircraft Company (CJSC) to manufacture up to 60 new Russian SukhoiSuperjet 100 short-range aircraft per year (25 planes were manufactured in 2013) and reduce its debt burden.
The state's financial support was provided to boost the leading investment project in the domestic aircraft industry.
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