Rus News Journal

The bank of Moscow has placed a radar

Bank of Moscow invests in navigating system GLONASS. Together with AFK System the bank creates company RTI in which AFK will bring 97 % of the daughters RTI Systems and the Bank of Moscow will enclose 3 mlrd rbl. in exchange for 15,4 % RTI. In the future the bank can become the co-owner of one more affiliated company AFK - Sitroniksa which the corporation plans to unite with RTI Systems . In this case the share of Bank of Moscow in the new company can make 12,1 %.
the Bank of Moscow will bring in an authorised capital stock of the new company 3 mlrd rbl., System - 97 % of Open Society belonging to it Concern RTI Systems and 2,88 mlrd rbl. Following the results of the transaction the share of Bank of Moscow in RTI will make 15,4 %, 84,6 % will be at Systems . Thus, the company RTI Systems it is estimated in 17,1 mlrd rbl.

Partners intend to be engaged in realisation of the investment program of concern RTI Systems including in the field of scale state projects, such as the geoinformatics and GLONASS, is told in the corporation message. The vice-president Systems Irina Potekhin says that RTI Systems it is interested in commercialisation GLONASS and services derivative of this technology, therefore has decided to involve the financial investor. In a press - to service of Bank of Moscow have informed that experience and financial possibilities of Bank of Moscow will allow to commercialise certain innovative operating time that corresponds to interests of shareholders, and also the states as a whole .

RTI systems is engaged in manufacture of radio engineering, space and land control systems, and also mehanotronikoj (creation of systems with computer management). The concern is a monopolist in the field of creation of a radar for system of an antimissile attack. The gain for 2009 - $410 million, OIBDA - $51 million

Formation of the new legal person was required because RTI Systems serves a part of defensive sector and such structurization of the transaction essentially simplifies its realisation, explains a source close to the transaction. It does not exclude that in the foreseeable future the quantity of shareholders can increase, as the company needs not only the financial investor, but in the shareholder who will bring with itself client base .

the Source in the large telecommunication company considers that participation in the transaction of Bank of Moscow (the capital government posesses 46,48 % of actions) can be connected with introduction in Moscow in 2011 of intellectual transport system (ITS). This system should solve transport problems of the Russian capital. On program realisation only this year for the operator - the developer of system in city budget it is provided more than 6,257 mlrd rbl. (see from February, 3rd). Two applicants will participate In the tender at least: Navigatsionno - information systems 51 which % of actions belongs to System the others - state corporations the Russian space systems . Also to participate in the tender the International road consortium (unites developers of systems and the software for transport sphere, in particular Singapore AA Traffic, French STI and English Verrus) intends.

Having bought a share in RTI, the Bank of Moscow can receive a package in another to a daughter AFK - Sitronikse (63,97 % of actions) after its association with RTI Systems (see from November, 17th, 2010). The Vice-president Systems Irina Potekhin says that the decision on association of the companies is not accepted, therefore to argue on a dale of Bank of Moscow in Sitronikse prematurely.

capitalisation Sitroniksa at the London stock exchange makes approximately $135 million Proceeding from the transaction with Bank of Moscow, 100 % RTI Systems stand 17,1 mlrd rbl., or $583 million Thus, the incorporated company RTI Systems and Sitroniksa $718 million Indirect share of Bank of Moscow in the incorporated company " can cost; RTI Systems and Sitroniksa can make 12,1 %.