Putin announced the transfer of the state-owned stake in the United Shipbuilding Corporation to VTB

State block of shares in the United Shipbuilding Corporation (USC) will be transferred VTBRussian President Vladimir Putin said at a meeting with Andrey Kostin, chairman of the board of the bank.

“The Government of the Russian Federation worked out the issue and came up with a proposal to transfer VTB state block of shares in the United Shipbuilding Corporation. I support this proposal,” the head of state said, his words leads Kremlin press office.

Kostin thanked Putin for his trust and said that the group works closely “both with the corporation and with the enterprises that are part of the corporation, so we know the problems, especially with regard to the organization of financing.” “Therefore, I am sure that with your support we will cope with this task and will make every effort to solve all the problems,” said the head of the financial organization.

Industry and Trade Minister Denis Manturov said he expected VTB effective management USC and fulfillment of the state order, writes TASS. He said that the Ministry of Industry and Trade would soon agree on all the necessary documentation for the transfer VTB state stake.

Against the backdrop of the news, the share price VTB during trading on the Moscow Exchange increased by 4.33% to 0.0277 rubles. As of 14:14 Moscow time, it amounted to 0.0276 rubles. (+3.99%).

USC was founded in 2007. The Corporation is the largest shipbuilding holding in Russia, providing 80% of domestic shipbuilding. It includes about 40 organizations, including design bureaus, research centers, shipyards, ship repair and engineering enterprises.