The order is necessary for consolidation of shareholdings in seven companies in the state Corporation “rostec” to prevent “erosion” of the state Corporation share in the Charter capital of joint stock companies and to ensure the preservation of control over their activities.
MOSCOW, 15 Mar. The government has ordered the transfer of the state Corporation “rostec” the shares of seven joint-stock companies, the relevant document published on the website of the Cabinet on Tuesday.
Among the companies whose shares are moving “Rostec”, in particular, Scientific research Institute of aviation equipment in Zhukovsky, Russian electronics, Kazan instrument-making design Bureau.
It is noted that the decision will allow for consolidation of shareholdings of these organizations in the state to prevent “erosion” of the state Corporation share in the Charter capital of joint stock companies and control over their activities.
The document prepared by the Ministry of industry and trade pursuant to the presidential decree of 10 July 2008, No. 1052 “Issues of the State Corporation for promoting development, manufacturing and export of high technology industrial products “Russian technologies”.
Rostec is a Russian Corporation established in 2007 to promote the development, production and export of high technology industrial products. The Corporation consists of 15 industry-specific holding companies (including “Helicopters of Russia” and “United engine Corporation”, “Kalashnikov”, etc.), and 32 direct and control 14 infrastructure organizations.