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OAO United Shipbuilding Corp., a Russian state company, may buy 76 percent of OAO Northern Shipyard at a 15 percent discount to the initial auction price, Vedomosti said, citing an unidentified person close to the plant’s owners.
The first auction for St. Petersburg-based shipyard failed with a start price of 14 billion rubles ($443 million) for the stake, the newspaper said. The price may be cut by 15 percent for a second sale attempt, Vedomosti said.
The stake in Northern shipyard, which constructs ships for the Russian navy, was previously owned by Sergei Pugachov, a former member of Russia’s upper house of parliament. The shares were put up as collateral for a 32 billion-ruble loan from the central bank to his International Industrial Bank in 2010, the newspaper said.
Northern shipyard, Rosimushchestvo and central bank representatives declined to comment for the Vedomosti article.
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