gf0012-aust
April 22nd, 2004, 03:08 AM
MOSCOW (Reuters) -- Warplane maker Irkut has bought 75.46 percent of aircraft designer Yakovlev for a little less than $70 million in a first step toward a consolidation of the sector, a source close to Irkut said Wednesday.
Irkut had said it intended to buy Yakovlev. It made the purchase using funds it raised last month in a $127 million share placement in Moscow, the source said.
Irkut became the country's first arms firm to make a public share offering last month when it listed more than 20 percent of its shares on local exchanges, valuing the company at $545 million.
(Moscow Times)
There goes Mikoyans opportunity to build a lightweight fighter with Yakovlev.. It also means that the proposed merger of all of the FSU's principle combat aircraft manufacturers must be on a slow stall..
Irkut had said it intended to buy Yakovlev. It made the purchase using funds it raised last month in a $127 million share placement in Moscow, the source said.
Irkut became the country's first arms firm to make a public share offering last month when it listed more than 20 percent of its shares on local exchanges, valuing the company at $545 million.
(Moscow Times)
There goes Mikoyans opportunity to build a lightweight fighter with Yakovlev.. It also means that the proposed merger of all of the FSU's principle combat aircraft manufacturers must be on a slow stall..