German Daimler sold its stake in KAMAZ

Daimler Truck sold its 15% stake in the Russian KAMAZ, Sergei Kogogin said, without specifying the buyer. The HEAD of Rostec, Sergei Chemezov, previously spoke about the interest in the shares of the German concern.

The German Daimler Truck (part of the Mercedes-Benz Group) sold its 15% stake in the Russian KAMAZ, KAMAZ CEO Sergei Kogogin told Vedomosti. However, he did not specify the transaction amount and the final buyer.

Kogogin recalled that the German concern has not been involved in the life of the Russian company since 2022, since the start of the special operation in Ukraine . “Their future plans for our company are unknown. What is much more important for us is that the termination of relations with European partners, which, of course, changed our product, did not affect our ability to produce commercial equipment and develop our model range,” the head of the company emphasized.

Daimler became the last of the largest Western automakers to completely withdraw from Russian assets in the spring of 2022, the newspaper notes. Previously, all the world's leading automakers left the market, and in January 2024 , the Korean Hyundai plant in St. Petersburg was bought by the Art Finance company.

Daimler Truck announced the suspension of operations in RUSSIA at the end of March 2022, but there was no talk of a final exit from the market at that time. At the same time , Rostec CEO Sergei Chemezov said that the company was negotiating with Daimler about the German automaker’s share in KAMAZ .

KAMAZ's share in the domestic truck market is approximately 25%. In the first half of 2023, the automaker’s net profit doubled to 13.2 billion rubles. versus 6.8 billion rubles. respectively. The largest shareholder at that time remained Rostec with 47.1% of shares, another 23.54% belonged to Avtoinvest LLC (its co-owners were Sergey Kogogin (30%), businessmen Nikolay Timokhin (50%) and Ruben Vardanyan (20%). ) ) and 15% of the German Daimler.

Russia criticizes Western sanctions . President Vladimir Putin has repeatedly spoken about their ineffectiveness. He called the development and modernization of his own industry an absolute priority for the authorities.

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