Daimler is reportedly seeking to buy a 15% stake in truck maker Kamaz from Russian investment company Troika Dialog, bringing its stake up to 25%, according to a report by business daily Vedomosti which cited two sources close to Kamaz shareholders. At the moment, the parties are negotiating over the purchase price. No other details were available about the terms of the deal.

Daimler was expected to notify Troika Dialog, which holds 44.4% in Kamaz, whether it wanted to buy a stake in Kamaz by November 11. The deadline was set after Russian state-owned industrial conglomerate Rostekhnologii made an offer last September to buy 13% in Kamaz from Troika Dialog, which would increase its stake to a controlling share from the current 37.8%. The daily said however, that Daimler has preemptive rights to buy out Troika Dialog’s shares in the truck maker. Last Monday, a 15% stake in Kamaz was worth US$259.5 million on the Russian Trading System Stock Exchange (RTS).

[via just-auto]

Tags: car news, Daimler, daimler kamaz stake, daimler news

This entry was posted on Wednesday, November 25th, 2009 at 8:07 pm and is filed under 2009, 4wheels News, Russia, Year, Zone. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.