Long Beach-based Sea Launch Co., once a major part of Boeing Co.’s rocket launch ambitions, could emerge from bankruptcy protection with a Russian firm as its largest shareholder.
Rocket engine maker Rocket & Space Corp. Energia, based in Moscow, has proposed investing $140 million to take an 85 percent stake in the unusual rocket venture that was founded by Chicago-based Boeing as a way to more efficiently launch satellites into space.
The investment is part of a plan to bring the firm out of Chapter 11, possibly by August. But the proposed ownership change is raising questions about Sea Launch’s future in Long Beach and whether it will continue to operate the floating platform from the Pacific Ocean.
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