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.