newstodate.aero
Sep 13, 2017 (newstodate): The Ukrainian state is fighting against the sale of a majority of shares in the country's only civil and military engine manufacturing company, Motor Sich.
Over the last two years, a number of shares have been acquired by offshore companies registered in Panama, the Virgin Islands, Cyprus and Saint Kitts and Nevis - but eventually the main beneficiary of the transactions has been proved to be a Chinese citizen, owner of Beijing Skyrizon Aviation Industry Investment Co., Ltd., which was thus supposed to indirectly control a 56.009 percent stake in Motor Sich.
The case was detected by Ukraine's Antimonopoly Committee that has so far seized 41 percent of the shares, aiming at arresting the remaining stake.
This would mean that the state would once again become sole owner of the company.
Over the last two years, a number of shares have been acquired by offshore companies registered in Panama, the Virgin Islands, Cyprus and Saint Kitts and Nevis - but eventually the main beneficiary of the transactions has been proved to be a Chinese citizen, owner of Beijing Skyrizon Aviation Industry Investment Co., Ltd., which was thus supposed to indirectly control a 56.009 percent stake in Motor Sich.
The case was detected by Ukraine's Antimonopoly Committee that has so far seized 41 percent of the shares, aiming at arresting the remaining stake.
This would mean that the state would once again become sole owner of the company.