Business news from Ukraine

“Antonov” returns 49% stake in its subsidiary company

21 July , 2023  

Antonov State Enterprise has once again become 100% owner of the German company Antonov Logistic Salis – a company created to service air cargo transportation under the program of NATO countries, having achieved the exclusion of Belgian Cargo Air Solutions, which previously owned 49% of shares, from the number of shareholders.

“Our company since yesterday is the sole shareholder of the German subsidiary Antonov Logistic Salis. Now all dividends from its activities will go to the accounts of Antonov. The point in this process has been reached,” Acting Director General Yevgeny Gavrilov was quoted in the SE’s statement on Thursday.

It is specified that the case of SE Antonov and Cargo Air Solutions was considered in German courts, including the High Land Court of Dresden, where the company managed to prove the fact of falsification of the minutes of the shareholders’ meeting, which served as the basis for exclusion of Cargo Air Solutions from the list of shareholders.

“We have corrected the mistake of the former management of Antonov SE, whose actions authorized the sale of shares to an unknown company established less than a month before the purchase of shares. This fact was written about in the media back in 2021. In June 2023, Antonov SE at the company’s shareholders’ meeting made a decision to exclude Cargo Air Solutions from the list of shareholders,” the release said with reference to Olga Abramova, Antonov’s director for legal affairs and corporatization.

According to her, the Belgian company tried to block this decision in the courts, but to no avail.

The SE recalled that the first Antonov Logistic Salis contract under the program with NATO was signed in 2019 for three years. Last June, it was extended until the end of 2026.

Antonov SE provides air transportation for NATO and EU countries for emergency cargo delivery in crisis situations. Two An-124-100 Ruslan aircraft may be used. They should be in stand-by mode at Leipzig airport (Germany), and on additional call Antonov provides three more airplanes.