UBS ups stake in Nefaz to 12%, East Capital fund disposes of shares
UFA. Jan 15 (Interfax) - Swiss bank UBS AG has increased its charter capital in Bashkortostan-based OJSC Neftekamsky Automobile Plant, or Nefaz, part of the OJSC Kamaz Group, to 12.13% from 0.37%, Nefaz said in a statement.
Cyprus-based Catapel Limited, which is owned by East Capital Bering Russia Fund, has disposed of its 9.3% stake in Nefaz.
In addition, a number of companies and funds under the control of East Capital founder and partner Peter Elam Hakansson have indirectly disposed of shares in Nefaz: East Capital Alternative Investments (Cayman) Limited, which indirectly controlled 9.3% of Nefaz; East Capital Bering Russia Fund (9.3%); East Capital Holding AB (11.7%); Cadre Invest SA (11.7%); Rytu Invest AB (11.7%) and Stora Vattnet Invest AB (11.7%). Hakansson ceased to have indirect disposal of 11.7% stake in Nefaz.
Nefaz and Kamaz did not specify the details of the deal to Interfax.
According to the list of affiliates, OJSC Kamaz owns 50.02% of Nefaz, and trhe Republic of Bashkortostan, through OJSC Regional Fund, owns 28.5% as of the end of December 2013.
East Capital was created in 1997 and manages assets in Eastern European and East Asian markets. Assets under the company's management total 3.6 billion euro. East Capital's head office is in Sweden.