Rus News Journal

AvtoVAZ buys up actions of affiliated companies

Michael Ljamin, the analyzer of “Bank of Moscow“:

AvtoVAZ Management all the same decided to get rid from girdled structure, report Sheets. As the newspaper writes, in the beginning of 2006 Rosoboroneksport began buying up of shares of affiliated companies AVVA and TSO AFK which monitored more than 60 % of shares of the parent company. On the beginning of last year AvtoVAZ did not posess 14 % of shares AVVA and 40 % AFK. However, as reports newspapers, for today, buying up process it is already finished. Minority share holdings AFK are almost completely redeemed, and here the share in AVVA managed to be increased only at 1-2 %.

to Receive complete control over AVVA which shares are strongly sputtered between small investors, it appeared an uneasy task.

however, the buying up purpose the desire of the maximum drop of a share of minority shareholders, most likely, was. Further, management can make the solution under the redemption of shares of AvtoVAZ from affiliated companies. In this case, to it does not walk any more to reckon minoritarijami at determination of fair value of shares.

we positively value the given news. The cross structure of the property reduced investment appeal, limiting capabilities of attraction of financial resources. Besides, it is not excluded that change of structure of the property becomes on the threshold of company actuation in obrazuemyj Rosoboroneksportom the state industrial holding.