Russia's Federal Antimonopoly Service granted the application of State-owned corporation Rostec (Moscow) for the purchase of 78.94502% of the voting shares in OJSC Elektronika Central R&D Institute of Economics, Informatics and Control Systems (CNII Electronika Moscow), the regulatory body informed.
The transaction applied for will not restrict competition, the competition authority points out.
Rostec (Russian Technologies Group until December 2012) established in November 2007 is meant to provide assistance to Russian entities of various industries in the development, manufacture and marketing of hi-tech goods domestically and abroad, in carrying out applied R&D to explore promising technologies and in adopting advanced techniques for production to boost the quality of domestic technologies, to reduce the time and cost of their development.
Rostec comprises over 550 enterprises representing various economy sectors. Among them are such Russian companies as FSUE Rosoboronexport, United Engine Corporation, Russian Helicopters, VSMPO-AVISMA Corporation, Urals Optical & Mechanical Plant, Ruselectronics, AvtoVAZ, KAMAZ, Scartel (using the Yota brand) etc.