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Jan 17, 2017

KAMAZ * Russia: Eyes stake in Indian truck maker

* Moscow - Kamaz wants to buy the assets of Gujarat-based AMW Motors

--- The Indian subsidiary of Russia’s Kamaz Motors is looking to acquire a minority stake in privately-held Indian truck maker Asia MotorWorks Ltd (AMW)... AMW, which has almost $200 million in debt, has been in talks with Kamaz for almost a year... Kamaz entered the Indian market in 2009 via a joint venture with Britain’s Vectra Group. It bought out Vectra’s stake in 2014. It has sold around 1000 trucks in India since 2010 and looks to make India a base to expand operations into Southeast Asia... If the Russian truck maker manages to buy a stake in AMW, it would be the first deal of its kind in the industry in India... A source close to Kamaz told RIR that the deal is likely to be finalized by the end of the month. The valuation is still being sorted out, the source added... 
(Source:kamaz.ru - Kamaz entered the Indian market in 2009 via a joint venture with Britain’s Vectra Group)   --  Moscow, Russia - Russia-India Report, by ALEXANDER KORABLINOV - 16 January 2017

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