Daimler has indicated that it wants to buy a 15% stake in truck maker Kamaz from Russian investment company Troika Dialog and thus increase its stake to 25%, business daily Vedomosti reported, citing two sources close to Kamaz shareholders.

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The companies are currently in talks over the purchase price, the sources said without providing any details.


Daimler was expected to notify Troika Dialog, which holds 44.4% in Kamaz, whether it wanted to buy a stake in Kamaz by 11 November. The deadline was set after Russian state-owned industrial conglomerate Rostekhnologii made an offer in September to buy 13% in Kamaz from Troika Dialog, which would increase its stake to a controlling share from the current 37.8%. However, Daimler has preemptive rights to buy out Troika Dialog’s shares in the truck maker, the daily said.


On Monday, a 15% stake in Kamaz was worth US$259.5m on the Russian Trading System Stock Exchange (RTS), the daily said.


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