MOSCOW. June 5 (Interfax-AVN) - The Federal Antimonopoly Service (FAS) has allowed the Oboronprom industrial holding to acquire up to 100% of voting shares in Rybinsk-based engine-maker Saturn, the FAS said in statement on Friday.
The corresponding application was submitted on April 16.
Oboronprom was established in 2002 and unites helicopter and engine manufacturers, the producers of air defense and radar systems as well as other machine-building assets. The state is its biggest shareholder with 55.45% of shares. The other shareholders are Rosoboronexport arms trader (28.3%), the Republic of Tatarstan (13.7%) and Rostvertol helicopter-maker (2.53%).
In the future Saturn, along with other assets, is meant to be contributed to the United Engine-Making Company which is envisaged as Russia's leading manufacturer of aircraft engines and engines for gas transportation. The company is expected to be established by the middle of July.