The shipbuilding assets of the United Industrial Corporation (UIC), comprising St. Petersburg-based Baltiysk Shipyard, Severnaya Verf Shipyard and the ‘Iceberg’ Design Bureau, will be put up for sale pending the decision of the Arbitration Court of Appeal, the UIC said.
A source in the UIC has told in an interview with PortNews that the assets are in escrow at the Central Bank of Russia until the Arbitration Court determines the value of the assets. The Corp. insists its assets cost more than 100 billion rubles, while the Central Bank does not agree with the price estimate.
Currently, the assets value assessment issue is being considered at different Arbitration courts separately for each enterprise. According to a source in the Corp. all of the cases will be combined into one and filed with St. Petersburg Arbitration Court of Appeal, where the shipbuilding assets are located, for further consideration.
Earlier reports said that United Shipbuilding Corporation (USC) had long been interested in acquisition of the UIC shipyards, but the buyer will be determined in an open bidding.