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Daimler Trucks to increase stake in Russian truck manufacturer KAMAZ

Muamer Hodzic February 11, 2010

kamaz 540x359 Daimler Trucks to increase stake in Russian truck manufacturer KAMAZ
Daimler AG and Russia’s leading investment bank Troika Dialog have signed a memorandum of understanding (MoU) regarding the strengthening of Daimler’s role in the Russian truck manufacturer KAMAZ, through the acquisition of 5% of the KAMAZ shares held by Troika Dialog.

Daimler AG will initially increase its holding in KAMAZ by one percent to 11%. The remaining four percent of the deal would be bought by the EBRD (European Bank for Reconstruction & Development). As a result of this transaction, the EBRD would obtain representation on the KAMAZ Board of Directors. Daimler AG has a seat on the KAMAZ Board of Directors since 2009. The parties to the contract have agreed not to disclose the price at which the 5% stake will be purchased from Troika Dialog.

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