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7 Apr, 2008 07:36

Troika Dialog buys control of KAMAZ trucks

The investment company Troika Dialog is buying a controlling stake of KAMAZ, the Tatarstan-based truck maker.

The group is purchasing nearly 38 per cent of Kamaz Capital, the owner of 32 per cent of the manufacturer, from the government of Tatarstan.

The deal will effectively increase Troika`s stake in Kamaz to just over 50 per cent.

KAMAZ produces more than 30 truck models as well as trailers, buses, tractors, engines, power trains, instruments and equipment. It's one-third owned by the state.

Russian business daily, Kommersant, speculates that Troika Dialog is preparing to list KAMAZ on the stock exchange through an IPO (initial public offering) of its holding in the autumn.