Monday, July 15, 2013

Apollo Tyres, India to buy Cooper Tire, US

India's second-largest tyre manufacturer Apollo Tyres has acquired US-based Cooper Tire & Rubber Company in an ` 14,500-crore all-cash deal. At $2.5 billion, it is one of the largest overseas acquisitions by an Indian company. Apollo will vault from 16th to 7th position in the global tyre manufacturing rankings, and get deeper market access in the US, Europe and China.

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