Daimler Truck and former parent Mercedes-Benz on Wednesday said they could not confirm talks on a possible sale of Mercedes-Benz’s stake in Russian vehicle and engine maker Kamaz to top shareholder Rostec, dismissing an earlier report.
TASS news agency had cited Rostec CEO Sergey Chemezov as saying it was in talks with Mercedes-Benz to acquire the carmaker’s stake in Kamaz.
“We cannot confirm the TASS report,” a Mercedes-Benz spokesperson said. “As far as we are aware there are no talks ongoing with Rostec,” a Daimler Truck spokesperson added.
Rostec holds 49.9 percent of Kamaz shares, according to Kamaz’s website. Mercedes-Benz, formerly Daimler AG, holds 15 percent. The remaining 20.81 percent are held by Cyprus-registered company Avtoinvest.
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