Tatravagónka Poprad, a wagon maker controlled by Alexej Beljajev and Budamar, is in the process of acquiring a majority stake in Indian holding Commercial Engineers & Body Builders Co. The holding, which is listed on the Indian stock market, is in financial trouble, has six plants, and makes and maintains wagons. Tatravagónka declined to comment on the deal.
Three years ago, Tatravagónka acquired a 13% stake in another Indian engineering company, Jupiter Group. It has plants in Germany, Poland, and Serbia as well.