DAIMLER has transferred its shares in KAMAZ to the affiliated truck company

DAIMLER has transferred its shares in KAMAZ to the affiliated truck company


 

Autostat.- German car manufacturer Daimler AG, which owns 15% of Russian Kamaz, has transferred its shares to the affiliated company Daimler Truck AG, according to a company statement. As a result, all 106,084,434 voting shares, which make up 15% of the authorised capital of Kamaz, have been transferred to the affiliated truck company. The ownership transfer date has been set as 15 November, as stated by the company.

As one may remember, the German car manufacturer Daimler acquired 10% of Kamaz shares for $250 million in December 2008 and received the status of exclusive strategic partner. The consortium of strategic partners increased their share in Kamaz in June 2010, purchasing the shares of the investment company Troika Dialog. As a result of the transaction, Rostec increased its stake in Kamaz by 12.2%, bringing it to 49.9%. In due course, becoming a strategic partner, Daimler increased its shares in Kamaz by 1%, taking into account the share of the European Bank for Reconstruction and Development (EBRD) – up to 15%. According to unofficial data, Rostec paid $305 million, Daimler $25 million and EBRD $100 million. The German carmaker has purchased 4% of EBRD shares in Kamaz in October 2014, increasing its stake to 15%.