Only 25% of the MAZ remains in Belarus
14:52, — Economics
Belarus will give 75% of shares minus one share to the holding company.
Belarus and Russia will have equal ownership of the joint holding company Rosbelavto that will be set up on the basis of MAZ and KAMAZ, First Deputy Premier of Belarus Vladimir Semashko told reporters on 22 June, BelTA has learnt.
The First Vice Premier added that the holding company will be headquartered in Moscow. In his words, the evaluation of the market value of MAZ and KAMAZ took a long time; however, the experts came to the conclusion that the market value of KAMAZ is $1.6 billion, that of MAZ $1.1 billion.
Vladimir Semashko reminded that the Russian government represented by Rostekhnologii owns 49.9% of KAMAZ company, while 100% of MAZ belongs to the state. “We are free to do what we deem necessary with 100% of the shares,” the First Vice Premier underlined. Calculations show that if KAMAZ contributes 49.9% or 49% of its shares to the joint management company, MAZ will need to contribute about 75% of the shares.
“To have at least a slightest influence on the process, we want to keep 25% of shares plus one share in Belarus and give 75% of shares minus one share to the holding company. Then we will get the parity of 50/50 and all the decisions will be made by a consensus and no one will feel deprived”, Vladimir Semashko said.
The Rostekhnologii administration agreed to this proposal. “If Russia said “yes”, if our President said “yes”, we will go ahead with the Rosbelavto project,” Vladimir Semashko concluded.
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