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USC cleared to sell Far Eastern assets to Rosneft, Gazprombank JV

September 16, 2014, 18:36 UTC+3 MOSCOW
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MOSCOW, September 16. /ITAR-TASS/. The Russian government has approved a sale of United Shipbuilding Corporation’s (USC) assets in the country’s Far East to a joint venture of oil major Rosneft and Gazprombank, according to a ruling published Tuesday on the official website for legal information.

USC will sell 75% minus two shares in Far Eastern Shipbuilding and Ship Repair Center and 100% in a ship repairing plant in the Primorsky Region for a price not lower than the market one to the venture called Sovremennye Tekhnologii Sudostroyeniya.

The government has also approved transferring 53.50% in Far Eastern plant Zvezda and 42.99% in Khabarovsk Shipbuilding Plant to USC through an additional share offering of the company. Currently, the assets are fully owned by the government.

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