Chinese investors of Motor Sich have launched international arbitration with the aim of recovering USD 3.5 billion against the state of Ukraine, since they qualify the actions of the Ukrainian authorities as expropriation of their investments in this enterprise.
The corresponding message is posted on the official website of the DCH group, clarifying that there was no pre-arbitration settlement of the investment dispute.
In 2019, the honorary president of Motor Sich, ex-member of Partiya Rehioniv Vyacheslav Bohuslaev, confirmed the sale of the company’s shares to the Chinese companies Skyrizon and Xinwei Technology.
They were to receive more than 50% of shares, that is, a controlling stake. After the acquisition of shares by the Chinese, the Security Service of Ukraine through the courts achieved the arrest of 56% of the company’s shares.
The ministry said that “unidentified persons from among the current and former officials and ultimate beneficial owners of the company” can weaken Ukraine by destroying the enterprise, and its capacity can be transferred to another country.
According to Zaxid.net, the agreement on the sale of shares to the Chinese still had to be approved by the Antimonopoly Committee, which is considering cases of concentration (a controlling stake in one hand), but Bohuslaev sold the shares without permission of AMCU.
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