Entrepreneur and philanthropist Ruben Vardanyan stated that he is still proud of the deals with KAMAZ and AvtoVAZ.

Ruben Vardanyan said this in the interview to RBK TV, while commenting on the leaked documents of so-called Panama Papers.

He reminded that the two companies were on the verge of bankruptcy in the 90s, and told the story of how the consortium was formed to manage KAMAZ.

“We worked with complete transparency, and the fuss began because of interpretation of certain documents, which were obtained illegally, by the way,” noticed Ruben Vardanyan.

Answering the question on the use of offshore companies, the businessman said that it was aimed solely on increasing efficiency and ensuring flexibility of certain business processes.

While speaking of the AvtoVAZ deal, the entrepreneur said it can be considered unique, as the Russian state got both money and the company shares without spending any money.

“The state won, financial investors won, and the company gained a strategic partner,” said Vardanyan.