Manturov: a large investor is negotiating about the purchase of a stake in “Helicopters”


MOSCOW, December 29. Major portfolio investor in talks to buy stake in the company “Helicopters of Russia”. In an interview, said the Minister of industry and trade of Russia Denis Manturov.

“If you focus on my position, I was never a supporter of the endless expansion of the list of state assets. The government at some stage may lend a hand in consolidation of the assets, to continue to enter the financial market with a full asset. But the question is when it is profitable to do so. For example, I will not name the interested parties but has now resumed negotiations on the “Helicopters” that we have recreated from the ashes,” said the Minister.

Proposed portfolio investor purchase price shares in “Helicopters of Russia” is “interesting”, said Manturov.

“In the 90-ies of the assets (helicopter – approx. ed.) just crumbled, and today it is a powerful high-tech machine building company which is able to achieve the desired performance. Three years ago we tried to launch an IPO, but in time withdrew from the road show, as the proposal was at a price lower than we wanted. And today, portfolio investor wanted to buy an asset, on the basis of the price which to us was interesting. So you need time to pause, and the company would be appreciated”, – said the Minister.

About the possible privatization of the KLA

The Ministry expects that the share in UAC can be privatized in 2019-20, after you start the MS-21 project, the Minister said.

“We hope that sooner or later the UAC will be released for privatization, but will need to wait 2019-2020 This is because we need to finalize the portfolio of the KLA, one SSJ-100 is small, and the oak still lives by a military order. Need to SSJ-100 has entered the profits. In addition, another 3-4 years will need to subsidize the preparation of the MS-21”, – said the Minister.

UAC plans the first flight test aircraft MS-21 by the end of 2016, said Manturov. “Recently, the media wrote that the roll-out of MS-21 first flight is transferred for a few months, and the aircraft is based on aircraft developments 90-ies… That’s what we agreed! And this plane is developed completely from scratch since 2008. Yes, we are rolling out a little slip to the right, we need to achieve high quality new composite technologies, so I think a completely unnecessary risk to produce a crude plane. Will hold the roll-out of the aircraft by the middle of next year, and by the end of the year will reach flight testing” – said the Minister.

On The “Uralvagonzavod”

Uralvagonzavod is negotiating the sale of shares in subsidiary transport company “UVZ-Logistik”, has interested buyers, said Manturov.

“Rostec”

Rostec does not plan acquisitions in new sectors of the economy, works only where it already has assets, said Manturov.

“There is a false impression that rostec seeks to grab what he don’t have in the form of competencies, and thus to monopolize the market. It’s not as “rostech” only works in those areas where it has assets,” he said.

This year, “rosteh” received in the holding 100% of shares of the FSUE “NPO “Microgen” – the largest producer in Russia of immunobiological products, and have created their own pharmaceutical holding “national immunobiological company” (NEC).

The termination of the free trade regime with Ukraine

The Ministry of industry and trade of the Russian Federation sees no risks to industry of the Russian Federation in connection with the termination of the free trade regime with Ukraine, from 1 January 2016, said Denis Manturov.

“For us, I don’t see any risks. Rather, they have with their Ukrainian colleagues – it will be rather difficult to replace our products. We have already coped with the replacement that was bought in Ukraine. And our Ukrainian colleagues will have to work hard to find new customers. The fact is that import substitution is not a reaction to sanctions. It has been going on for a long time. For example, helicopter engines, we began to importozameschenie since 2009. But again, this is not a quick process, and especially where it comes to high-tech products,” he said.