"Avtodetal service" to become 100% owner of "Ikarbus" - Alfa bank approved loan of 13m EUR for procurement of remaining stocks

Russian Alfa bank has announced that it approved long-term loans in amount of 13m EUR to company "Avtodetal service", which operates within "AMS group", in order for that company to become the 100% owner of Serbian bus manufacturer.

"Avtodetal service" will take over 60.78% of stocks of Belgrade-based "Ikarbus" and, as Privatization Agency announced earlier, the company from Russian city of Uljanovsk is obliged to do that by the contract on purchase of 39.22% of "Ikarbus", which was signed on August 11, 2008.