Troika Dialog May Sell KAMAZ Stake to Daimler

25.07.2008 (15:54)

Troika Dialog Investment Company has officially announced that it could sell 42 percent in KAMAZ to Daimler's truck business.

The talks over the possible sale were opened in the second quarter of 2008, and Troika Dialog selected Daimler as the exclusive partner for further negotiations. Soon after that, Daimler spearheaded due diligence to give a comprehensive estimate to its possible participation in KAMAZ. If the results are positive, the two companies propose to close the deal by the end of the year, Troika said. Russia's state technology corporation is the other major shareholder of KAMAZ with a 37.8-percent stake.

Daimler Trucks is eying the deal as a way of joining the Russian market, with Daimler Trucks contributing technology know-how, and KAMAZ providing its existing production facilities and distribution networks, RBC reports.

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