Volga | Finance, business

Avtodetal-Servis approves $27.4m Alfa-Bank loan

9 Sep '08
Board of directors at Ulyanovsk-based auto component manufacturer Avtodetal-Servis has approved a $27.4m loan to be taken from Alfa-Bank, sources in the company reported today.

The three-year loan will be provided at an 18-percent interest rate.

The loan will be spent on upgrades as well as paying for 39.2% of Serbia's bus manufacturer Ikarbus AD Avtodetal-Servis bought in April.

Avtodetal-Servis is owned by AMS-Group, a multiproduct holding incorporating service, industrial and retail distribution companies.
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