Russia’s Izhmekh sold to private investors
Rostec, Russia’s state corporation, has officially announced sale of a controlling stake in its Izhevsk Mechanical Plant (Izhmekh), one of Russia’s largest manufacturers of small arms.
It is planned that Izhmekh, which produces about half of small arms in Russia, will be sold to a group of private investors including Andrei Bokarev, Iskandar Makhmudov and Alexei Krivoruchko – who already own 49% in rival Kalashnikov Concern, which they acquired in May 2014 for RUB1.3 billion.
Under the terms of the deal, Rostec will sell the 51% stake of the plant. At the same time another 49% will continue to be
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