Auction For Shares In Ural Automobile Plant To Be Held Today

The auction for 24% of the shares in the Ural Automobile Plant, founded as a subsidiary on the basis of the facilities of the UralAZ company (Chelyabinsk Region) within the framework of the receivership proceedings at the latter, is scheduled for today. The action will be closed in terms of the number of participants. Valery Panov, the receiver for UralAZ, reported earlier that the block of shares in the Ural Automobile Plant of 25% plus one share, which is still owned by UralAZ, would be offered to the federal government. The respective negotiations have already begun. Three subsidiaries of the Sibal company have bought 51% of the shares on the Ural Automobile Plant. Applications for participation in the closed auction submitted by several Russian companies have been accepted.