Russia’s United Aircraft Corp. (UAC) has received government approval to sell 48.4% of its shares in Ilyushin Finance Co. (IFC) to VEB bank. UAC holds 49.64% of shares in IFC, according to the company. In 2007, IFC became part of UAC after the government transferred its leasing company shares to UAC. According to a government statement, since that time the shares have not been revalued and were worth RUB8.753 billion ($245 million). The government also stipulated shares should not be ...

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