President Vladimir Putin signed an order on 24 October authorising the incorporation of Russia’s United Aircraft Corporation (UAC) into Rostec, the high-tech holding that controls most of Russia’s defence industry.
The order, which was published on the government’s legislative portal, states that “The Russian government’s proposal for the transfer to the State Corporation ... Rostec, of the government's holding of 92.31% of shares of UAC.”
According to the order, the transfer is to be completed within 18 months and effectively puts the aircraft industry into Rostec’s hands.
A draft presidential order for the incorporation of UAC into Rostec was sent to the government in March.
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