Russia's United Aircraft Corp. to spin off lease firms before IPO

BANGALORE, February 12 (RIA Novosti) - Russia's United Aircraft Corporation (UAC) intends to take two lease firms, Ulyushin Finance Co. and Finance Leasing Company, off its books before holding an initial public offering, the UAC CEO said on Thursday.

"We plan for Ilyushin Finance Co. to be assigned to the ownership of VEB [Vnesheconombank] and Finance Leasing Company will join the sphere of influence of VTB," Alexei Fyodorov said.