Public Joint Stock Company Avtovaz agreed to acquire a 40% stake in United Automobile Technologies OJSC from KAMAZ Publicly Traded Company (MISX:KMAZ) on November 1, 2021. The plan is to create a joint partnership between KamAZ with 45% of shares and AvtoVAZ with 40% for the development of OAT in the field of production of modern automotive components. The main customers of OAT products are Russian automakers - AvtoVAZ, KamAZ, GAZ, and UAZ. The group's website notes that more than 90% of all its products are supplied for Lada cars. OAT appeared in the plan to write off 20 billion rubles of AvtoVAZ's debts to Rostec. Theoretically, OAT's debt to AvtoVAZ can be repaid by shares, provided that the shareholders of OAT and AvtoVAZ do not mind, said Vladimir Bespalov from VTB Capital. Deal is subject to approval of Federal Antimonopoly Service of Russia (FAS). The completion of the transaction is scheduled for the end of 2021. As of November 17, 2021 Russia's Federal Antimonopoly Service (FAS) has approved carmaker Avtovaz's application to acquire a 40% stake in auto components manufacturer United Automotive Technologies from KAMAZ Publicly Traded Company (MISX:KMAZ).