Russia Buys 50% of STX Shipyard in Helsinki, Interfax Reports

OAO United Shipbuilding Corp., Russia’s state-controlled shipbuilder, bought 50 percent of an STX Europe ASA shipyard in Helsinki for 150 million euros ($200 million), Interfax reported, citing the Russian company.

United Shipbuilding put 2 million euros into a joint venture with STX Europe, a unit of South Korea’s STX Group, Interfax reported, citing an unidentified person at the Russian company. The remaining 148 million euros will come from future profits of the shipyard, the person told Interfax. The agreement includes an option to buy 20.4 percent of STX unit Aker Arctic Technology Inc., the new service said, citing the source.