Fire Point enters the Middle East market: the UAE wants to buy the company’s shares
31 December 2025 10:01
The United Arab Emirates announced its intention to buy a stake in the Ukrainian defense-tech company Fire Point. In total, the arms manufacturer was valued at $2.5 billion.
BBC News Ukraine learned about this from confidential sources in the company who are familiar with the details of the deal, "Komersant Ukrainian" reports.
This is a unique case for the Ukrainian defense industry.
According to the sources, the EDGE defense group, owned by the sovereign wealth fund of the United Arab Emirates, plans to acquire a minority stake in the Ukrainian company.
According to the sources, the deal will involve the sale of a 30% stake in the company.
The deal is worth about $760 million.
FP has already submitted the necessary documents to the Antimonopoly Committee.
Earlier it became known that Timur Mindich allegedly wanted to buy a stake in FP, but was refused by the owners.
The company was founded in 2022 by Denys Shtilerman and Yegor Skalyga, later joined by Iryna Terekh.
The company produces long-range drones FP-1 and FP-2, as well as Flamingo missiles. It also plans to produce a ballistic missile.
In recent months, the company has been involved in a number of scandals, and the NABU has admitted that it is investigating certain circumstances of its work. The company has large government orders in Ukraine.
EDG Defense Group was established in 2017. It is headquartered in Abu Dhabi, the capital of the UAE, and unites more than 35 organizations and six main clusters: platforms and systems, missiles and weapons, space and cyber technologies, commercial (EDGE Commercial), technology and innovation, and internal security.
What is known about Flamingo and FP-1 and FP-2
The FP-1 (carrying 60 kg of explosives up to 1.4 thousand kilometers) and FP-2 (with a 100 kg warhead and a range of up to 200 kilometers) are manufactured by the Ukrainian arms company Fire Point.
The developers claim that the Flamingo missile can fly 3,000 kilometers and carry up to a ton of explosives. “The Flamingo could pose a serious challenge to the Russian military industry not only in the European part of Russia, but also in regions farther away from Ukraine.
According to the General Staff, FP-1 drones account for more than half of the damage to enemy targets in the interior of Russia.
Experts call the FP-1 “a definitely successful weapon,” the FP-2 is on its way to becoming so, and the FP-5 Flamingo is currently an “experimental weapon.”
