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Tuesday, May 12, 2009

Russian Shipyard To Become State-Owned: Putin

Russian Prime Minister Vladimir PutinMonday, Russian Prime Minister Vladimir Putin announced that the state-owned United Shipbuilding Corporation would receive 59% stake--a controlling stake previously owned by a group of private shareholders--in the Amur Shipbuilding Plant in the far east of the country, reports say.

At a meeting with management and workers at the troubled shipyard in Komsomolsk-on-Amur, Putin said that state savings bank Sberbank and the group of private shareholders signed an agreement Saturday on the sale of the share to the former for a small sum so that it could later be sold to the St. Petersburg-based United Shipbuilding Corporation, which is 100% state-owned.

Putin stated that the corporation already has 17.9% of the plant's stock. "On the whole, the United Shipbuilding Corporation will have a stake of about 77%," he said.

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