PRAGUE, Aug. 30 - Top Czech used-car dealer AAA Auto, which Wednesday officially announced its planned initial public offering on the Prague and Budapest bourses to fund its expansion to Southeastern Europe, is in the advanced stages of agreeing joint ventures in Russia and Ukraine, AAA Auto founder and chairman Anthony Denny said.

"We are currently talking to a few of the largest dealer groups in Russia - and, I may add, in Ukraine as well," Denny told Interfax on the sidelines of a press conference Wednesday that detailed AAA Auto's planned dual listing, which should raise nearly EUR44 million. "Nothing has been finalized yet but we really would prefer to do joint-ventures rather than 100% greenfields owned by us."