United Shipbuilding to Acquire $2.8bn in Assets
United Shipbuilders in Russia will acquire shipbuilding assets worth $2.8bn from Russian businessman Sergei Pugachov. Pugachov will sell the assets to the state-owned company to repay a €200m ($242m) eurobond due in July. Pugachov, who owns Russia's International Industrial B
United Shipbuilders in Russia will acquire shipbuilding assets worth $2.8bn from Russian businessman Sergei Pugachov.
Pugachov will sell the assets to the state-owned company to repay a €200m ($242m) eurobond due in July.
Pugachov, who owns Russia’s International Industrial Bank, is selling off the assets after a rating agency expressed concern over the bank’s liquidity position, according to The Wall Street Journal.
The assets include shipbuilding companies Severnaya Verf and Baltiisky Zavod.