Tawazun to acquire a 50% stake in VR Technologies from Russian Helicopters.

Tawazun, an industry enabler responsible for the creation and development of a sustainable defense and security industry in the UAE, agreed to acquire a 50% stake in VR Technologies, a subsidiary of Russian Helicopters, which is developing helicopters and unmanned aerial vehicles. “The agreement signed today lays the foundation for long-term cooperation in the format of not just colleagues, but business partners. With the support of Rostec State Corporation and RT-Business Development, we were able to achieve full understanding with Tawazun, without which it would be impossible to implement such significant and large-scale projects. As equal partners, we plan to invest at least $442m in the development of VR-Technologies, which will help make the company's products competitive and in demand all over the world," Andrey Boginskiy, Russian Helicopters Director General.