Russia’s biggest truck builder KAMAZ is reported to be considering selling a quarter of its shares for USD1.25bn this year ‘to a strategic investor from the European auto sector’.

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Reuters reported that sources familiar with KAMAZ’s plans said MAN, Scania, Volvo Truck and Iveco were among potential investors in the firm.


However, the report also said KAMAZ was considering a secondary share offering or a merger with Belarussian truck maker MAZ, which would significantly change the strategic stake sale plan.
 
“Most likely, the deal will be planned in two stages: a sale to a strategic investor to raise the valuation, and then a share issue,” one source told Reuters on the sidelines of a Russian Economic Forum in Singapore organised by Troika Dialog brokerage


Reuters noted that the plan for KAMAZ would mirror developments at AvtoVAZ, which was first consolidated by state firm Rosoboronexport with the help of Troika Dialog.

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