KYIV, Jan 25 – Chinese investors will seek to replace the management of Motor Sich, Ukraine’s only producer of aircraft engines, at an extraordinary shareholder meeting they have requested to hold on January 31.

The Chinese investors claim to own 80% of shares in Motor Sich, but the Ukrainian authorities have never approved the transaction and have blocked shareholder meetings since April 2020.

The Chinese sued Ukraine for $3.5 billion and the government plans to hire legal advisors to fend off the lawsuit in international courts.