Consortium leg by Vardanian looks to sell Daimler 27% of Kamaz by end-2013 - Rostec
MOSCOW. July 1 (Interfax) - A consortium of investors lead by Ruben Vardanian is looking to sell German automaker Daimler all its stock in Russian truck-builder OJSC Kamaz - 27.3% - by the end of this year, the managing director for investments at state corporation Rostec, Sergei Skvortsov, said during an interview given to the business daily Vedomosti.
"Daimler is under no obligation to increase its stake, but negotiations over this have never ended," Skvortsov said.
Daimler manages the Kamaz stake belonging to the European Bank for Reconstruction and Development, and if the deal goes through the company and bank will together hold 42.3% of the stock in Kamaz.
At a June 28 press conference following the company's AGM, Rostec chief Sergei Chemezov and Kamaz General Director Sergei Kogogin said that working with Daimler suits the shareholders.
Corporations control 98.34% of Kamaz shares, including Rostec (49.9%), Avtoinvest Limited (24.53%), Daimler AG (11%), Kamaz International Management Co. (4.25%), EBRD (4%) and Decodelement Services Limited (2.73%).