Abu Dhabi's Strategic Development Fund unwinds partnership with Russian Helicopters
The firms had entered into a partnership in 2020 to develop co-axial helicopters
Abu Dhabi: Strategic Development Fund (SDF), an Abu Dhabi-based strategic investment firm, finalised and signed an agreement to exit and unwind Aeroter PTE LTD - its partnership with Russian Helicopters.
A media release stated that the partnership was formed for the development of the VRT500 Helicopter and VRT300 UAV programs.
In November 2020, SDF and Russian Helicopters entered into a partnership in Singapore through Aeroter PTE LTD to develop the VRT500 single engine Co-axial helicopter and VRT300 Co-axial UAV which was being developed through its subsidiary VRT in Moscow.
Following the international crisis in early 2022, SDF paused any further investments in Russia to assure compliance with international sanctions. In addition, SDF initiated discussions and negotiations with Russian Helicopters to unwind the partnership, in order to have the option to continue the development programs independently in the UAE.
The unwinding agreement was signed on November 14.