EDB withdrew from the authorized capital of KamAZ
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The Eurasian Development Bank (EDB) has transferred a 3.72% stake in the company to KamAZ’s subsidiary KamAZ Financial Leasing Company and exited its authorized capital. This was reported Interfax.
The transaction closed on July 12, 2022. On that day, KamAZ shares on the Moscow Exchange traded at 89.8 rubles. per share. The size of the transaction could be about 2.36 billion rubles.
EDB entered the authorized capital of KamAZ in 2018. As part of the deal, KamAZ transferred 3.72% of the shares to the EDB, at that time the deal was estimated at 1.53 billion rubles. KamAZ reported that as a result of the agreement, they would receive a new partner for the implementation of investment projects. The EDB also said that they transferred 9.5 billion rubles to KamAZ. as funding.
In the spring, KamAZ came under sanctions from the EU countries, the USA, Great Britain, Australia, Canada, New Zealand and Switzerland because of the military operation in Ukraine.
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