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USC shares to be under trust management by VTB for five years — Deputy PM

It is noted that the transfer of shares of the corporation will not change the ownership form and will not affect commitments under effective contracts

MOSCOW, August 10. /TASS/. Shares of the United Shipbuilding Corporation (USC) will be transferred to trust management by VTB Bank for the term of five years, the press service of the Russian Ministry of Industry and Trade said.

"The President supported the proposal of the Russian Ministry of Industry and Trade to transfer 100% shares in JSC USC into trust management by VTB Bank for the term of five years. The ministry will agree upon required regulatory documents with interested federal executive agencies: a draft government resolution on submission of a relevant draft decree for the review by the President," Deputy Prime Minister Denis Manturov said, cited by the press service.

The transfer of shares of the corporation will not change the ownership form and will not affect commitments under effective contracts, USC added.

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