Alenia Aeronautica in Russian-European Aircraft Joint Venture

June 17, 2007

Cleary Gottlieb is representing Alenia Aeronautica, a subsidiary of long-time client Finmeccanica, in its joint venture with Sukhoi Civil Aircraft Corp., a subsidiary of Sukhoi Aviation Holding, for the development of the Superjet 100, a new mid-range civilian aircraft with 75- and 95- passenger capacities. Alenia and Sukoi will use a dual joint venture structure. Alenia will acquire 25% plus one share in SCAC, a Russian company that will design, engineer and manufacture the jets. Alenia and Sukhoi Aviation will create a new Italian company with 51% and 49% shareholdings, respectively. The Italian company will be responsible for certifying, marketing, selling and delivering the Superjet 100 in western markets and for post-sales assistance worldwide. This collaboration is an important industrial partnership between European and Russian companies in the civil aviation sector. The Superjet project is expected to rejuvenate the Russian civil aviation industry. The deal was signed on June 17.

The Superjet 100 is the first civilian aircraft project of Sukhoi, a company famous for its fighter jets. Orders for at least 71 Superjets have been confirmed.