UAE to invest $760 million in Ukrainian missile maker Fire Point

BBC Ukraine reported the information.

According to the publication, the UAE sovereign fund-owned defense group EDGE intends to acquire a minority stake in Fire Point. The deal involves the sale of 30% of the company's shares, with the transaction estimated at around $760 million. Fire Point has already submitted the necessary documents to the Antimonopoly Committee of Ukraine.

This agreement could be unprecedented for the Ukrainian defense industry. Previously, according to BBC Ukraine sources, Timur Mindich allegedly showed interest in acquiring a stake in the company, but Fire Point's owners refused his offer.

Currently, the company produces long-range FP-1 and FP-2 drones, as well as Flamingo missiles. The launch of ballistic missile production is also being considered for the future.

Recently, the company has been involved in a series of scandals, and the National Anti-Corruption Bureau of Ukraine (NABU) reported investigations into certain aspects of its activities. At the same time, Fire Point remains one of the largest suppliers for state defense orders in Ukraine.

• On November 22, Dmytro Lykhoviy announced that the first combat use of the Flamingo missile took place in May 2025.