MOSCOW. Dec 12 (Interfax-AVN) - Daimler will pay for a 10% stake in Russian truck maker Kamaz (RTS: KMAZ) in two tranches.
"The two payments are $250 million immediately and $50 million in the event operations over the course of several years are a success," Ruben Vardanyan, the chairman of the supervisory board of major Kamaz shareholder Troika Dialog (RTS: TROY) said at a press conference on Friday.
Troika Dialog and the consortium of investors it organized will sell the shares.
Vardanyan thanked Daimler for "agreeing not to look at the current market price [of Kamaz shares]."
According to a joint press release from the companies, the deferred payment will be made in 2012 contingent on positive financial-economic operations at Kamaz.
Daimler will receive one seat on the Kamaz board of directors.