UTC will redeem its shares at $6 billion from Deutsche Bank and JPMorgan Chase

Moscow. November 12. American engineering group United Technologies Corp. (UTC) have signed an agreement on accelerated redemption of own stocks from banks Deutsche Bank and JPMorgan. for a total of $6 billion, according to The Wall Street Journal.

The redemption will take place in the framework of the acquisition and delisting of the shares by $10 billion planned for the current year. Just before the end of 2017 UTC intends to acquire its own shares $16 billion.

The program will be partially financed by funds from the sale of the helicopter division of Sikorsky concern Lockheed Martin Corp. for $9 billion.

UTC stocks in the market on Thursday, prices rose by 0.1%. With the beginning of the year capitalization of the company dropped almost 20%.