Rostec to transfer the control over IMZ to private investors
Andrey Bokarev will acquire 74.9% of IMZ (Izhevsky Mekhanichesky Zavod) shares owned by Rostec Corporation. The purchase price will be allocated for production modernization and reequipment of manufacturing funds. Rostec will retain controlling interest.
The purchase will be made after corporate approval procedures are fulfilled through additional IMZ shares emission and will have two stages. 51% of shares will pass to private investors the first quarter of 2015, and the rest of the stock will be purchased later. The shares will be acquired by one of the companies controlled by Bokarev.
Recently Rostec has revised the strategy of several holdings. Sporting gun and pistol manufacturer IMZ is a Corporation’s non-core asset. The reequipment requires substantial investments, engineering processes need to be arranged. Market competences and private investor experience will contribute to the plant’s sustainable development. However, Rostec will retain controlling interest.