ICON Aircraft is under investigation by the Committee on Foreign Investment in the U.S. (Cfius) after a complaint by a group of minority investors who claim the hefty stake in the company by a Chinese company could lead to a technology transfer with military applications. ICON said in a statement last week that the claims are actually a bid by former CEO and company founder Kirk Hawkins to regain control of the company. Hawkins was sacked by the board of directors after the Chinese company, Shanghai Pudong Science and Technology Investment Co., accumulated 47 percent of the shares in the company. Hawkins kept his seat on the board of directors, however.
This is a companion discussion topic for the original entry at https://www.avweb.com/aviation-news/government-investigates-chinese-investment-in-icon