Belarus Plans to Keep Blocking Share Package of MAZ in Holding Company with KAMAZ

Belarus plans to retain the blocking share package of “ MAZ ” in the holding company to be established with the Russian “ KamAZ ” . According to BelTA, this statement has been made today by Chairman of the State Property Committee Georgy Kuznetsov.

Belarus plans to retain the blocking share package of “ MAZ ” in the holding company to be established with the Russian “ KamAZ ” . According to BelTA, this statement has been made today by Chairman of the State Property Committee Georgy Kuznetsov .

Georgy Kuznetsov noted that the negotiations on the establishment of the holding company “ MAZ-KamAZ ” started two years ago. The participants of the process are still considering the problems of the two companies ’ integration. “ Everyone understands that today it’s impossible to survive in this market on one’s own , it’s the survival - of - the - fittest environment,” he said. That’s why integration of the Belarusian and Russian enterprises is still on the agenda .

The two companies’ assets have been valued . The Chairman of the State Property Committee reminded those present that there had been disputes about them, and added that now, “it seems , they have come to an agreement” . “ We have also agreed on the way to amalgamate, what packages are to be handed over , and whether it will be a holding company or a corporation . Belarus transfers 75% of MAZ shares, leaving a blocking minority – 25%, ” he said. Georgy Kuznetsov also said that in the future there would be a management company which should get 75% of MAZ and more than 49% of KAMAZ shares . As a result, Belarus would own a 50% stock in the holding. It is still to be determined how to manage the company, who will be the chairman of the holding company, how the management of the holding should rotate . Possessing a blocking share package of MAZ, Belarus will be able to defend its interests in the holding company. “ If the holding company take s a decision which is not advantageous for Belarus with respect to MAZ, the country may block this decision at any time ,” emphasized Georgy Kuznetsov.