Daimler, which owns 11 percent of KamAZ directly, has a partnership agreement that would allow it to increase its holding this year or next.
Sergei Chemezov, the head of KamAZ's biggest shareholder, state conglomerate Rostec, said last year that negotiations aimed at giving Daimler a bigger stake had been suspended due to differences over price.
New buyers for the stake may be Russian lender VEB, state-backed private equity fund the Russian Direct Investment Fund or Rostec, Chemezov said, Russian media reported Wednesday .
A spokesman for Rostec confirmed that Chemezov said that VEB, the RDIF and Rostec may contend for the stake.
The stake is currently owned by investors led by Ruben Vardanyan, the former chief executive of investment bank Troika, now owned by Sberbank, Kommersant said.
"Although the negotiation process is not transparent, we believe that Chemezov's statement was probably directed toward Daimler, in an attempt to accelerate negotiations between the German manufacturer and Vardanyan and his partners," said analysts at Metropol.
Daimler was not immediately available for comment. KamAZ, VEB and the RDIF declined comment. Vardanyan could not immediately be contacted.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
