Belarus Values MAZ at $1.1 Billion, Sees KamAZ Tieup, Belta Says

Belarus values the Minsk Automobile Plant, known as MAZ, at $1.1 billion, Belta reported, citing First Deputy Prime Minister Vladimir Semashko.

Belarus expects soon to form a joint holding company between MAZ and OAO KamAZ (KMAZ), the Russian truckmaker partly owned by Daimler AG (DAI), with each of the companies transferring 49 percent of its shares to the combined entity, Semashko was quoted as saying by Belta. Belarus is seeking a 46 percent stake in the joint venture, handing control to Russia with 54 percent, Semashko said, according to Belta.

To contact the reporter on this story: Aliaksandr Kudrytski in Minsk, Belarus at akudrytski@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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