Daimler Truck acquires 15 pct of Russian truck maker Kamaz

Source: Xinhua | 2019-11-26

Daimler Truck AG, a subsidiary of German automaker Daimler AG, has acquired a 15-percent stake in Russian truck maker Kamaz.

The transaction took place on Nov. 15, according to a Kamaz statement on Monday, without elaborating.

Kamaz is Russia's top producer of heavy cargo trucks. It also manufactures a broad spectrum of other commercial vehicles, including diesel, gasoline and electric-powered buses.

Russian state-run conglomerate Rostec is Kamaz's largest shareholder. Another big owner is Avtoinvest company, which is controlled by a group of Russian business people and bankers.