Ukrainian Antimonopoly Committee Rejects Application for Acquisition Stake in Fire Point

The Antimonopoly Committee of Ukraine has made a pivotal decision by returning an application for the acquisition of a stake in Fire Point, the largest Ukrainian manufacturer of drones and missiles. The application was filed by a defense conglomerate based in the United Arab Emirates (UAE) for a sum of $760 million. This decision is crucial in the context of regulating foreign investments in Ukraine's defense sector, particularly given the ongoing conflict with Russia.

According to a report from Reuters, the Antimonopoly Committee stated that it received the application on December 30 but did not accept it for consideration as it did not meet the necessary criteria. This indicates that the committee is meticulously scrutinizing foreign investments to ensure they align with national interests and security.

The counterparty in the deal was EDGE Group, a prominent defense conglomerate based in the UAE. EDGE Group specializes in the development and production of high-tech defense systems and is considered one of the leading players in the region. The rejection of the application may reflect the cautious stance of Ukrainian regulators regarding issues related to security and strategic assets.

Fire Point was established following the onset of the Russian invasion of Ukraine in 2022 and has quickly emerged as a significant player in the drone market, producing the majority of long-range drones used by Ukraine to strike Russian military targets. Additionally, Fire Point manufactures the Flamingo cruise missiles, which are also deployed in combat operations.

In a previous interview with Defender Media in March 2026, Fire Point's CEO and CTO, Iryna Terekh, revealed that the company plans to launch the production of solid rocket fuel at a facility in Denmark. She noted that the first phase of such an enterprise would be opened in 2026, with the main part expected to be operational by 2027. This underscores the company's ambitious plans for expanding its production capabilities and technological advancements.

Furthermore, Fire Point aims to develop its own air defense system by 2027, which is intended to serve as a cost-effective alternative to the Patriot system. This development could significantly enhance Ukraine's defense capabilities and reduce dependence on imported technologies.

On April 6, it was reported that Fire Point had received inquiries from Gulf countries regarding the purchase of its drones and is awaiting approval from the Ukrainian government to commence exports. This opens new opportunities for market expansion and strengthens the company's financial stability amid the ongoing war.

Thus, the decision by the Antimonopoly Committee of Ukraine to return the application for acquiring a stake in Fire Point demonstrates the state's cautious approach to foreign investments in strategic sectors, particularly in the defense industry. It also highlights the importance of supporting national manufacturers in the face of external threats.