Truck giant plans to sell its shares
2 Apr, 2008 05:24
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Russia's largest maker of lorries, KAMAZ, may sell a quarter of its shares for $US 1.25 billion this year to a strategic investor from the European auto sector.
The Reuters News agency lists Germany’s MAN, Sweden’s Scania and Volvo and Italian firm Iveco among potential investors.
KAMAZ is also considering a secondary share offering or a merger with Belarussian truck maker MAZ.
However, if the sale takes place, KAMAZ would be valued at 10 times its EBITDA (earnings before interest, taxes, depreciation, and amortization) – at $US 5 billion.
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