9 Sep 2009 19:55

Russian Technologies wants to buy 13% in Kamaz from Troika Dialog, acquire control

MOSCOW. Sept 9 (Interfax) - Russian Technologies wants to purchase 13% in Kamaz from Troika Dialog investment company for $300 million-$320 million, which would allow the state corporation to gain a controlling stake in the truck maker, a highly placed source at Russian Technologies told Interfax

Russian Technologies already owns 37.8% of Kamaz.

The transaction will be discussed during a meeting between Prime Minister Vladimir Putin and members of the bureau of the central council of the Machine Builders Union on Wednesday, the source said.

"We already own about 38% of Kamaz. We want to increase our stake to a controlling interest and buy 13% from Troika," the source said.

Commenting on the deal's timeframe, the source said it would "take place immediately after being approved."

Troika Dialog controls 44.4% of Kamaz, while Daimler owns 10%.