Uralvagonzavod hopes for approval of TVZ share transfer in July
ST. PETERSBURG. June 21 (Interfax) - OJSC Uralvagonsavod (UVZ) hopes a decision on the transfer of 42.5% of OJSC Tver Carriage Works (TVZ) to it will be signed in July, UVZ General Director Oleg Sienko told the press on the sidelines of the St. Petersburg International Economic Forum.
"We hope the decree will be issued in July," he said.
UVZ hopes to exchange this stake for so-called "defense assets," owned by the majority shareholder of TVZ - CJSC Transmashholding . Asked whether Transmashholding will make an additional payment for the shares, Sienko said this was a matter for discussion.
Commenting on government plans to privatize Uralvagonzavod itself, Sienko said this issue was still raw. He said the company has been reporting to International Financial Reporting Standards for the past three financial years. The sale of UVZ shares should be started at the end of 2014, he said. The corporation is currently involved in dividing civil and military segments.