United Shipbuilding Corporation bought 50 percent of an STX Europe shipyard in Helsinki for 150 million euros ($200 million), Interfax reported Wednesday, 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 the shipyard’s future profits, the person told Interfax. The agreement includes an option to buy 20.4 percent of STX unit Aker Arctic Technology.
STX Group and United Shipbuilding earlier this year agreed to cooperate on vessel-making technology, according to July 29 statement from the South Korean company.