Report: Russia has bidders for stake in GAZ other than Volkswagen

MOSCOW, Nov 14 (PRIME) -- Russian companies have received bids for a stake in carmaker GAZ Group from companies other than Volkswagen, Deputy Prime Minister Dmitry Kozak said in an interview to Rossiya 24 television channel broadcast late on Tuesday.

In October, Kozak said that the Russian government is considering two options for GAZ Group, part of Russian Machines of tycoon Oleg Deripaska, to avoid the U.S. sanctions, including the sales of stakes to the government and to other companies like Volkswagen.

“Speaking of GAZ Group and Volkswagen, it is about commercial negotiations between the owners. There are other companies that are ready to invest, that are ready to buy these assets. Negotiations are under way now. This information is not public. It is about Russian companies that have alternative bidders, it is under discussion. Give it some time,” he said.

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