Russia's Federal Antimonopoly Service permitted MosAvtoZIL LLC to acquire 92.6% of the voting shares in AMO Plant, the regulatory body informed.
The transaction applied for will not restrict competition, the competition authority points out.
The Russian-Latvian JV AMO Plant was established at the initiative of the Moscow authorities in 2005 jointly with JSC Ferrus. Its principal shareholder is the government of Moscow City which owns 92.6% of the company's shares. The other shareholders are: OJSC AMO ZIL (4.4%), the Council of Jelgava (2.7%) and JSC Ferrus (0.3%).
The key profile of the enterprise is the assembly of city buses and municipal vehicles. The industrial facility was officially opened in August 2010.