Apollo Tyres of India will likely purchase Vredestein Banden for 300 million euros. Less than the 400 million euros Amtel (now bankrupt) paid when it bought Vredestein about four years ago. According to the Hindustan Times, the purchase is “expected to be closed in a fortnight for a consideration of around $300 million.”
"We are looking at closing the deal by the middle of this month," the paper quoted Apollo Tyres' Neeraj Kanwar, vice chairman and joint managing director, as saying. (SB)
