AbbottDuBois - China Automobile Expert-CNAUTO

MUMBAI: Apollo Tyres is in talks with Chinese rival Shandong Linglong Tire for ChemChina to use $9 100 million to buy South Korea’s second-largest tire maker Kumho Tire, some sources told The Economic Times. If the Indian company succeeds, the deal would create a tire maker that would join the ranks of global tire makers. The top seven companies have a strong presence in the US and Europe. These three companies are among the four finalists. The fourth company is reportedly French heavyweight Michelin, although the Economic Times could not independently confirm this. Two years ago, Apollo bought US-based Cooper Tire for $2.51 billion, but it ended in failure. The consortium of creditors that took over seven years ago is in the final stages of beginning the process of selling its 42% holding. Credit Suisse is targeting creditors such as Woori Bank (14.2 stake), Korea Development Bank (13.5) and KB National Bank (4.2) for the auction. Apollo is in talks with several c...

Vehicles

Tyre

Auto Spareparts

Material

Const machinery & Agro equipment

Apollo Tyres in race to acquire Kumho Tire in a $900 million deal