OREANDA-NEWS. September 1, 2010. United Industrial Corporation (UIC) counteracts the sale of its ship-building assets to United Shipbuilding Corporation (USC), Russian vice PM and USC board chairman, Igor Sechin told journalists August 31 while in Norilsk.

He added that negotiations were still ongoing, but were of unilateral nature. “USC has made weak attempts to get the information it is due”, Sechin said and lamented that this factor could stall the valuation of USC, currently being done by two global audit companies, including Ernst&Young.

“UIC opposes our getting the information and hopes this could offer them some ad-hoc benefits”, he added. UIC offered USC to acquire its ship-building assets, particularly, Severnaya Verf, Baltiysky Zavod and Iceberg design and construction bureau, all based in Saint Petersburg, in mid-June 2010. However, as Sechin put it, the parties were at strong variance as to the cost of the assets. Spokespersons at both companies told media previously that UIC was ready to sell the shipyards for RUB 88.9 bn, however, USC values them at no more than RUB 30 bn.