Troika Dialog intends to clinch a similar deal with KamAZ stocks. Already this year-end, the works will probably lure Volvo or Scania or MAN as a strategic partner.
Photo: Sergey Mikheev
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Troika Dialog to Sell a Portion of KamAZ Overseas
Having sold 25 percent in AvtoVAZ to French Renault, Troika Dialog intends to clinch a similar deal with KamAZ stocks. Already this year-end, the works will probably lure Volvo or Scania or MAN as a strategic partner. Under one of the scenarios, nonresidents may become the biggest co-owner of KamAZ. The alternative scenario provides for the merger with MAZ of Belarus but people in KamAZ don’t stake on this pattern.
KamAZ may dispose of 20 percent to 25 percent of its stocks to a strategic investor, i.e. to a western maker of trucks, news agencies reported yesterday with reference to the sources with the truck maker. Troika Dialog (19 percent in KamAZ) is said to have launched the talks with Volvo, Iveco, MAN and a number of other manufacturers. The deal could be clinched already this year-end.
The alternative scenario provides for KamAZ merger with its Belarus competitor, Minsk Automobile Plant (MAZ).
In KamAZ, they officially confirmed the possible sale of the stocks to an investor, specifying that “it isn’t the single variant of enterprise development,” but declining to elaborate. The news surged KamAZ quotes on MICEX by 4.8 percent (the index grew 0.8 percent) to $5.9 per a stock (the capitalization reached $4.2 billion).
KamAZ is Russia’s biggest maker of trucks. Ernst & Young estimates its market share at nearing 50 percent. The government holds 38 percent in KamAZ, KamAZ-Capital controls 33 percent, the firms of Troika Dialog have 19 percent, and 10 percent of stocks belong to top managers or float on the market.
Troika Dialog is well-experienced in attracting nonresident investors to an automobile maker of Russia. In late February, Troika Capital Partners sold to Renault a blocking stake in Russia’s car giant, AvtoVAZ, for $1.166 billion.
www.kommersant.com
All the Article in Russian as of Apr. 02, 2008
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