The United Arab Emirates is preparing an agreement with the Ukrainian defense-tech company Fire Point: it is about a stake in the business (shares/share in the authorized capital), and not about the «sale of drones» or the transfer of specific production sites.
The United Arab Emirates is preparing an agreement with the Ukrainian defense-tech company Fire Point: it is about a stake in the business (shares/share in the authorized capital), and not about the «sale of drones» or the transfer of specific production sites.
According to BBC News Ukraine, the buyer could be the EDGE defense group, a state-owned defense and technology conglomerate of the UAE, established in 2019 in Abu Dhabi. The publication’s sources claim that Fire Point was valued at $2.5 billion, and a 30% stake was valued at approximately $760 million. The structure of the deal (whether it is a sale of existing shares or an additional issue with capital raising in the company) is not disclosed in the public domain.
The company has already submitted documents to the Antimonopoly Committee of Ukraine, the BBC notes. Without the regulator’s decision, such a concentration will not be able to be completed. The material also mentions the previous interest in Fire Point from businessman Timur Mindich, but the interlocutors say that the owners allegedly refused this offer.
The BBC calls the possible deal unique for the Ukrainian defense industry, as it involves a major foreign defense player investing hundreds of millions of dollars in the capital of a Ukrainian company. There have been no public comments from the parties regarding the parameters of the negotiations so far.
Previously, dev.ua wrote about how the head of the «Return Alive» fund, Taras Chmut , called Fire Point a «shady» company and explained why the fund he heads does not cooperate with it.
