Main points
- UAE defense holding EDGE Group has put on hold the purchase of a 30% stake in the Ukrainian company Fire Point.
- The AMCU returned EDGE Group's application without consideration due to the documents not meeting the requirements of the procedure.
Investors from the UAE put the purchase of Ukrainian Fire Point on hold / dou.ua
The United Arab Emirates defense holding company has not yet returned to negotiations to buy a stake in Ukrainian company Fire Point. The potential deal involved a 30% stake in the company.
Why did the UAE change its mind about buying a Ukrainian missile manufacturer?
The EDGE Group holding planned to buy a share of the Ukrainian Fire Point. The Antimonopoly Committee of Ukraine (AMCU) reported this, Suspilne writes.
The Committee did not receive a repeated application for permission to conduct a concentration involving the business entities specified in the request (EDGE Group and Fire Point LLC) during the current year,
– stated the AMCU.
Earlier, EDGE Group approached the committee with the intention to acquire a stake in a Ukrainian defense company. According to media reports, the deal was for 30% of Fire Point, and the potential deal was valued at $760 million.
However, on January 14 of this year, the AMCU returned the application without consideration. The committee explained this by saying that the documents did not meet the requirements of the procedure.
What does the purchase of Fire Point mean for Ukraine?
Oleksandr Musienko, a serviceman of the Ukrainian Armed Forces' Defense Forces, told Channel 24 that if the United Arab Emirates buys a share of a Ukrainian defense company, it is important to know the details, because they can be different.
According to Oleksandr Musienko, it is generally good that investors are coming to Ukraine. This indicates the country's prospects.
In particular, if the UAE wants to buy part of Fire Point, it means that this company has development opportunities that are appreciated by international investors. There are prospects for producing missiles and drones to reach targets at long distances.
In addition, Fire Point has probably put its production facilities on stream, which require specialists. All this indicates the prospects of the global market.
For the company, this means that it can receive money and fulfill orders. Despite everything, it must receive funds to sell weapons to Ukraine. It is fundamentally important that our European partners get involved in this,
– said the soldier.
He emphasized that Ukraine's defense capability should be supported not only by investments, but also by financial assistance from Europe. Thus, it will be possible to supply the Ukrainian army by purchasing weapons from Ukrainian manufacturing companies.
This is in the interest of Europeans. The Ukrainian missile program and investments in it are a security factor for all of Europe,
– Musienko noted.
In the future, our state needs to have sufficient weapons reserves. This will guarantee security for Ukrainians and Europeans.
Fire Point and the “Mindich films”: what is known?
Fire Point received wide publicity after statements by Volodymyr Zelensky about preparations for mass production of Flamingo missiles. The company was called one of the promising weapons manufacturers in Ukraine.
However, later, high-profile scandals began to arise around Fire Point. According to journalists, NABU was allegedly investigating the company due to suspicions of overstating the cost and number of drones. The name of businessman Timur Mindich also appeared in the publications.
Fire Point co-owner and chief designer Denis Shtilerman previously stated that Mindich wanted to get a stake in the company. The situation was given additional resonance by the so-called “Mindich tapes”, which were published by journalists in the spring of 2026. The materials discussed the possible sale of a stake in Fire Point to foreign investors, writes UP.
The records showed that the sale of 33% of the company for $600 million was being discussed, half of which was to go to production development and the rest to shareholders.
Later, Fire Point co-owner Denys Shtilerman responded to the new publication of the “Mindich tapes” and categorically rejected the accusations. He also published the company's appeal to the National Anti-Corruption Bureau of Ukraine. This is stated in Shtilerman's post on his social media page.
In his address, he drew attention to the publication by Ukrainska Pravda of recordings of conversations in the Midas case, which mention Fire Point in particular. Shtilerman noted that this may create false associations between the company and those involved in the criminal proceedings and harm its business reputation.
Such dissemination of inaccurate information regarding the activities of FIRE POINT LLC, as one of the largest defense companies in Ukraine, has extremely negative consequences for both the company and the defense capability of the state as a whole, especially considering that this information is not properly confirmed and is manipulative in nature,
– the company notes.
According to Shtilerman, the unreliability of the information in the publication is indicated by the inflated amounts of funds received by Fire Point, which are discussed by the participants in the recordings.
In particular, the records mention 311 billion hryvnias, while the entire income for 2025, according to Shtilerman, was more than 10 times smaller and amounted to only 29,324 million hryvnias, as indicated in the official reporting.
Note! The Fire Point story is turning into not only a business case about large investments, but also an example of how reputational scandals can put a pause on deals worth hundreds of millions of dollars, even in an industry that is strategic for the country.
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What else is known about Fire Point?
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Fire Point produces hundreds of long-range strike drones every day, each costing around €50,000. The company also produces three Flamingo missiles per day and plans to increase production once it starts mass-producing its own engine.
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Fire Point has filed for registration of two new trademarks. The new trademarks are called “Pelican” and “Peace Dove”.
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Ukraine will be able to intercept ballistic missiles with its own air defense systems by the end of 2027. Fire Point is also interested in developing radars.