According to the Antimonopoly Committee of Ukraine (AMCU), the application was returned to the applicants on January 14, 2026, and as of early March no resubmission had been received by the regulator.
The proposed transaction was considered one of the most high-profile potential deals in Ukraine’s DefenceTech sector. Earlier reports indicated that EDGE Group, owned by a sovereign fund of the United Arab Emirates, planned to acquire 30% of Fire Point for approximately $760 million, implying a total company valuation of around $2.5 billion. According to the AMCU, the relevant documents were submitted to the committee on December 30, 2025.
Fire Point is one of the most prominent Ukrainian manufacturers of long-range drones and missile systems. According to data cited by Forbes Ukraine, the company’s revenue reached UAH 4.3 billion in 2024, while UAH 2.6 billion was generated in the first quarter of 2025 alone. The company was founded in 2022, and its flagship products include the FP-1 and FP-2 drones, the Flamingo cruise missile, as well as several new missile development projects.
According to lawyers and defense industry representatives interviewed by Forbes, the return of the application does not necessarily mean that the transaction has collapsed. One possible explanation may be the need to restructure the deal, adjust its legal configuration, or revise governance parameters that could require separate approval from the AMCU. In particular, the committee’s approval may be required not only when acquiring a controlling stake but also when an investor obtains blocking rights or significant influence over key corporate decisions.
At the same time, some experts suggest that the situation surrounding Fire Point may involve not only antitrust procedures but also security and geopolitical considerations. Since the company develops sensitive missile and drone technologies, any transaction involving a foreign investor could be assessed more broadly than a typical M&A deal. Lawyers note that Ukraine still lacks a fully developed FDI screening mechanism for reviewing such transactions, meaning that in practice the AMCU may partially assume this role in sensitive cases.
Fire Point stated that working interaction with the AMCU is ongoing within the framework of established procedures, but it is premature to discuss details of the deal structure or its parameters at this stage. The company had previously confirmed a strategic interest in cooperation with EDGE. In January, Fire Point’s CTO Iryna Terekh stated that within the framework of the partnership the parties were even considering space and missile projects in the UAE, and an official announcement of the deal details had been expected by the end of the first quarter of 2026.
EDGE Group remains one of the largest defense players in the region. According to the company’s official website, the Abu Dhabi–based holding includes more than 35 entities organized into six clusters, including missile systems, platforms, space & cyber technologies, and homeland security. According to SIPRI, EDGE ranked 37th among the world’s largest defense companies in 2024, with military revenues of approximately $4.7 billion.
Thus, the chances of the transaction between Fire Point and EDGE Group remain in place, but its future will likely depend not only on a renewed submission to the AMCU, but also on whether the parties can structure the deal in a way that addresses Ukraine’s security considerations and the political sensitivity of defense technologies.
