German Daimler in the near future will put their shares of KAMAZ in Russia’s jurisdiction

The German group of Daimler, shareholder manufacturer KAMAZ trucks in the near future will transfer its shares in KAMAZaKMAZ Russian jurisdiction. This was announced in an interview to television channelRussia 24″ General Director of KAMAZ Sergey Kogogin.

“We expect that Daimler will hold negotiation on the board in the near future - and the shares will return to Russia”, - said Kogoghin. According to him, the action to transfer the shares to the jurisdiction of developed and legally formalized. “Now there is a reconciliation process with our shareholders Legal opinions prepared.” - Continued Kogoghin.

Recall that in a letter to Parliament President of the Russian Federation proposed a number of measures to deofshorizatsii economy, in particular the revenues of companies registered in the offshore and owned by a Russian owner, should be taxed at the Russian tax rules in favor of the Russian budget. Otherwise, companies registered in a foreign jurisdiction, it will be impossible to use measures of state support, including state guarantees and loans to VEB.

Help “RG”

Among the shareholders of KAMAZ - corporation “Rostec” (49.9 percent), Avtoinvest Ltd company (24.53 percent), the German of Daimler (15 percent), KAMAZ International Management Co. (4.25 percent) and Decodelement Services Ltd (2,73 percent). Entities controlled 98.34 percent of the authorized capital of KAMAZ.

KAMAZ ranks 11th among the world’s leading manufacturers of heavy trucks and the eighth largest in the world in diesel engine production. The company consists of a single set of 12 large factories of automobile production. Total group includes more than 150 organizations located in the Russian Federation, the CIS and other countries.

7 April 2016

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