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Russian KAMAZ reduces share in venture set up with Trump advisor’s firm

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Russian KAMAZ reduces share in venture set up with Trump advisor’s firm

KAMAZ, a Russian truck manufacturer located in the city of Naberezhnye Chelny, the Republic of Tatarstan, has reduced its share in a joint venture established with Federal Mogul, a company owned by U.S. President Donald Trump’s advisor, Carl Icahn.

In 2016, the stake of KAMAZ in Federal Mogul Naberezhnye Chelny decreased from 50% to 39.4%, the company reports.

The President Donald Trump had previously assigned Carl Icahn as an adviser for state regulation reform. Corporation Federal Mogul is owned by the main Icahn’s company — Icahn Enterprises.

“In November of 2016, as a result of an increase in the authorized capital of Federal-Mogul Naberezhnye Chelny, the proportion of the group's participation decreased from 50% to 39,39%”, — the statement says.

As the company’s representative specified to Rambler News, the share of KAMAZ reduced due to investments made by the U.S. party.

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