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RDIF among suitors for Kamaz stake

22 Jan 2014

russia10_sqRussian buyers are reportedly offering a higher price for a 23.54 per cent shareholding in truck manufacturer Kamaz than German carmaker Daimler.

Rostec, the Russian Direct Investment Fund and VEB are interested in buying the stake from an investment consortium led by former Troika Dialog CEO Ruben Vardanyan, said Russian daily Kommersant.

Rostec is currently the company’s largest shareholder, while Daimler owns 11 per and is interested in increasing its stake.

Last year head of Rostec Sergei Chemezov told Reuters that negotiations with Daimler had been suspended due to a difference over price.

Earlier this week, RDIF invested in commercial laundry and textile management company Cotton Way alongside the European Bank for Reconstruction and Development.

RDIF director Maxim Arefyev told AltAssets that the state backed-fund is currently looking at around 50 companies. He said RDIF was interested in the agriculture processing, telecommunications and industrial manufacturing sectors.

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