BBC Ukraine: UAE defense corporation seeks to acquire stake in Fire Point

The EDGE defense group, owned by the sovereign wealth fund of the United Arab Emirates, plans to acquire a minority stake in the Ukrainian defense-tech company Fire Point. BBC Ukraine reported this, citing sources.

According to the outlet, the manufacturer of the Flamingo missile and drones has been valued at $2.5 billion. Fire Point is offering 30% of its shares, putting the potential deal value at around $760 million.

BBC Ukraine reports that the Ukrainian company has already submitted the required documents to the Antimonopoly Committee of Ukraine.

Fire Point was founded in 2022 by Denys Shtilerman and Yehor Skalyha; Iryna Terekh later joined the founders.

The company produces long-range FP-1 and FP-2 drones, as well as the Flamingo missile. Its plans include the development of a ballistic missile and an air defense system.

In recent months, Fire Point has been involved in a series of scandals, and Ukraine’s National Anti-Corruption Bureau (NABU) has acknowledged that it is investigating certain aspects of the company’s operations. Fire Point also holds large government contracts in Ukraine.

Earlier reports said that businessman Timur Mindich allegedly sought to acquire a stake in Fire Point but was turned down by the owners.

The EDGE defense group was established in 2017 and is headquartered in Abu Dhabi, the capital of the UAE. The group brings together more than 35 organizations across six core clusters: platforms and systems; missiles and weapons; space and cyber technologies; commercial activities (EDGE Commercial); technologies and innovation; and homeland security.

• In December 2025, the Ukrainian company FPRT, founded by Fire Point, launched the production of solid rocket fuel in Denmark.