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Russian official resigned from the government and bought the Kalashnikov arms concern

Russia

A block of shares in a major Russian arms manufacturer - 75% minus one share - was acquired by the former Deputy Minister of Transport Alan Lushnikov. Before him, the main owner of the concern was the current Deputy Defense Minister Alexei Krivoruchko.

Russian official resigned from the government and bought the Kalashnikov arms concern
Фото: Кирилл Каллиников / РИА Новости

The former Deputy Minister of Transport of the Russian Federation Alan Lushnikov became the new owner of the Kalashnikov arms concern, who acquired TKH-Invest LLC, which controls 75% minus 1 share of the concern through Transkomplektholding JSC (TKH). From the entry in the Unified State Register of Legal Entities of the Russian Federation dated October 29, it follows that 50% of TKH-Invest became the property of Mr. Lushnikov, another 50% remained in the ownership of the LLC itself.

Mr. Lushnikov left the Ministry of Transport in September 2018, and in 2019, together with Timur Gareev, established LLC "UK " Perspektiva ", which is engaged in asset management in the military-industrial complex. In particular, it manages the Lipetsk Mechanical Plant, the Research Institute of Steel and other enterprises.

According to Lushnikov, Kalashnikov is a diversified company that is engaged not only in the production of small arms, but also develops new technologies, in particular, the production of unmanned weapons and high-precision missiles. According to the new owner of the concern, Russian weapons are in demand abroad, and countries' spending on national defense does not depend on economic crises. The investor plans to develop the direction of civilian products, including the production of electric vehicles, said the source of the newspaper. He did not specify the amount of the deal.

According to experts of the financial market, the cost of the transaction could be up to 1 billion rubles, but most likely, it was below this amount due to the concern's debt burden. In addition, the arms manufacturer has been under US sanctions since 2014, following Moscow's annexation of Crimea from Ukraine and its support of pro-Russian separatists in the east of the country.

Kalashnikov is one of the largest arms manufacturers in the Russian Federation, accounting for about 95% of the production of small arms in the country. Historically, small arms are the main focus of the concern, but in recent years it has also been engaged in the production of precision weapons, drones, as well as military and civil boats.

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