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Russian Entrepreneur Buys Belarus Arms Exporter, Interfax Says

May 30 (Bloomberg) -- Russian businessman Dmitry Gurinovich acquired control of Beltech Holding, a group of Belarusian arms producers and traders, Interfax reported, citing an unidentified official at the holding’s export unit, Beltechexport.

Vladimir Peftiev, who previously headed the weapons exporter, fully ceded his stake in the group to Gurinovich, the Russian news service reported. The European Union last year froze the assets of Peftiev and three companies controlled by him while also barring the businessman from entering the bloc.

Beltech Holding’s press service in Minsk declined to comment. Gurinovich couldn’t be reached for comment.

The deal gives Beltechexport a stronger foothold on the international weapons market, according to Interfax. Beltech is the largest association of arms companies in Belarus, the country’s State Military Industrial Committee said on its website.

To contact the reporter on this story: Aliaksandr Kudrytski in Minsk, Belarus at akudrytski@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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