Support The Moscow Times!

Obstacle for Kamaz Sale

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)

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.