Finance
Ukraine Anti-Trust Body Sends Back UAE Firm's Bid for Drone Maker
Published by Global Banking & Finance Review®
Posted on April 8, 2026
2 min readLast updated: April 8, 2026
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Ukraine’s Antimonopoly Committee returned EDGE Group’s December 30, 2025 application to acquire a 30% stake in drone and missile maker Fire Point, valued at about $760 million, citing formal deficiencies and possibly strategic restructuring delays.
Ukraine’s Competition Authority Sends Back UAE Firm’s Bid for Drone Manufacturer
Details of the Fire Point Stake Acquisition Attempt
Background of the Application
KYIV, April 8 (Reuters) - Ukraine's anti-monopoly committee has sent back an application for a $760 million purchase of a stake in Ukraine's top drone and missile maker Fire Point by a UAE-based defence conglomerate, the agency told Reuters on Wednesday.
In a written response to questions, the committee said it had received the application on December 30 but had not accepted it for review because it did not meet the required criteria.
Parties Involved in the Deal
The committee confirmed that UAE-based EDGE Group was the counterparty in the deal, as previously reported by Ukrainian media outlets, citing unnamed sources.
Fire Point did not respond to a request for comment. The Ukrainian company has not identified the entity purchasing the stake. EDGE Group did not respond to a request for comment about the deal.
Financial Details and Valuation
Fire Point's co-founder Denys Shtilierman told Reuters in an interview last week that the acquisition of a 30% stake - which would value the company at $2.5 billion - was under review by Ukraine's anti-trust committee, which had until around October to decide.
About Fire Point and Its Role in Ukraine's Defense Industry
Founded after Russia's 2022 invasion, Fire Point is seen as the breakout star of Ukraine's defence industry, making the majority of the long-range drones Ukraine uses to attack Russia as well as the Flamingo cruise missile.
Committee’s Response and Next Steps
The committee, in its written response to Reuters, did not specify which rules the application had fallen foul of, nor when it was returned to Fire Point. It said it had not received another application from Fire Point at the time of writing.
A spokesperson declined to comment further.
Reporting Credits
(Reporting by Max Hunder; Editing by Daniel Flynn and Kirsten Donovan)
Key Takeaways
- •EDGE Group sought a 30% stake in Fire Point, implying a $2.5 billion valuation, via a $760 million transaction
- •The Antimonopoly Committee returned the application on January 14, 2026, without initiating review and has not received a resubmission as of mid‑March
- •Fire Point is under heightened scrutiny, with ongoing corruption probes and prominent international figures such as Mike Pompeo joining its advisory board
Frequently Asked Questions about Ukraine anti-trust body sends back UAE firm's bid for drone maker
1Why did Ukraine's anti-monopoly committee reject the UAE firm's bid?
The application did not meet the required criteria set by the anti-monopoly committee.
2Who is attempting to acquire a stake in Ukraine's drone maker Fire Point?
EDGE Group, a UAE-based defence conglomerate, is involved in the $760 million bid.
3How much was the UAE firm's bid for Fire Point valued at?
The bid was for the purchase of a 30% stake, valuing the company at $2.5 billion.
4What is Fire Point known for?
Fire Point is a leading Ukrainian manufacturer of long-range drones and the Flamingo cruise missile.
5Has the anti-monopoly committee specified why the application was rejected?
The committee did not specify which rules the application failed to meet.
