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Daimler is preferred KamAZ bidder
31st July 2008, Page 9
31st July 2008
Page 9
Page 9, 31st July 2008
— Daimler is preferred KamAZ bidder
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DAIMLER IS THE preferred bidder for the 42% stake held in Russian truck-maker KamAZ by investment bank Troika Dialog.
A Daimler spokesman has been quoted by the Russian media as suggesting negotiations would be completed by the end of the year.
Daimler is also believed to be close to signing its long-awaited joint-venture deal with Chinese OEM Beiqi Foton.
The German firm had been negotiating for the acquisition of 24% of Foton's stock, but this was suspended after the latter's share value tripled in 2007. It's now likely the two will form a standard joint venture that will produce MercedesBenz and Foton-branded trucks.