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Obstacle for Kamaz Sale

By The Moscow Times

The government has forbidden state-owned Rostekhnologii to sell a 49.9 percent stake in truck maker Kamaz without its approval, Interfax reported Thursday.

According to a list of companies approved by the government, the same applies to Rostekhnologii's stakes in engineering company Technopromexport, defense conglomerate Oboronprom, weapons producer Izhmash and Ruselectronics.

Rostekhnologii CEO Sergei Chemezov previously said that the government had proposed not selling the company's stake in Kamaz. Investment bank Troika Dialog holds 27.3 percent in Kamaz, while German automaker Daimler owns 11 percent.

(MT)

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