Tag: acquisition

Public offer: Michelin, SIFCA looking to wholly acquire rubber producer SIPH

Thursday 22nd June 2017 | 0 Comments

Acting in concert with Ivory Coast-based company SIFCA, Michelin has opened a simplified cash public tender offer through its 99.99 per cent-owned subsidiary Compagnie Financière Michelin SCmA (CFM) to acquire the 841,285 shares in natural rubber company Société Internationale de Plantations d'Hévéas (SIPH) not currently held by the two parties. Michelin states that it and SIFCA will pay 85 euros for each share in the West Africa-based rubber producer and marketer.

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Accuride agrees to buy Mefro

Monday 19th June 2017 | 0 Comments

Accuride Corporation has entered into an agreement to buy Mefro Wheels GmbH. Headquartered in Solingen, Germany, Mefro Wheels is a privately-owned supplier of steel wheels to the European and Asian passenger car, light vehicle and commercial vehicle industries and maintains manufacturing operations in Germany, France, Turkey, Russia and China.

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Dunlop Aircraft Tyres sold to Liberty Hall Capital Partners for US$135 million

Dunlop Aircraft Tyres sold to Liberty Hall Capital Partners for US$135 million

Thursday 15th June 2017 | 0 Comments

Liberty Hall Capital Partners, a private equity firm focused exclusively on investments in businesses serving the global aerospace and defence industry, has acquired Dunlop Aircraft Tyres Ltd. in a transaction valued at US$135 million. Dunlop Aircraft Tyres represents Liberty Hall’s first portfolio company focused on providing aftermarket products and services to the global aerospace and defence industry. A number of tyre makers had previously been linked with the sale of Dunlop Aircraft Tyres.

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Michelin acquires telematics provider NexTraq

Thursday 15th June 2017 | 0 Comments

The fleet management package Michelin offers in North America is set to benefit from the company’s acquisition of NexTraq, a US provider of commercial fleet telematics. Yesterday the tyre maker reported its purchase of the Fleetcor Technologies subsidiary in an all-cash transaction.

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Creditors strive to keep Kumho Tire deal alive

Tuesday 13th June 2017 | 0 Comments

Use of the Kumho brand name was certainly a factor motivating Qingdao Doublestar Tire’s bid for a share in the Korean tyre maker. Although selected as the winning bidder, uncertainty now hangs over the terms under which the Chinese manufacturer can use the Kumho name, and this may suffice for Doublestar to walk away from the deal. Kumho Tire’s creditors are attempting to broker a compromise.

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Superior Industries acquires 92.3% share in Uniwheels

Tuesday 6th June 2017 | 0 Comments

Aluminium wheel company Superior Industries International, Inc. now holds a 92.3 per cent shareholding in Uniwheels AG after concluding its tender offer for an aggregate consideration of US$714.7 million. This offer was financed through approximately $670 million of newly funded debt, as well as $150 million of Preferred Equity.

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Uni-Select Inc. acquires The Parts Alliance Group

Uni-Select Inc. acquires The Parts Alliance Group

Thursday 1st June 2017 | 0 Comments

The Parts Alliance Group has been acquired from its private equity owner HgCapital by Uni-Select Inc., a Canadian publicly listed, North American Automotive aftermarket distributor. New owners Uni-Select operate as a market-leader in the USA and Canada, distributing automotive aftermarket parts, equipment and refinish products through a network of 14 distribution centres, 270 corporate stores and over 1,100 independent wholesalers with 3,000 employees generating sales of $1.2 billion USD per annum.

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Bridgestone’s acquisition of Group Ayme completed

Bridgestone’s acquisition of Group Ayme completed

Thursday 18th May 2017 | 0 Comments

Bridgestone now operates a total of more than 900 First Stop, Speedy and Côté Route retail outlets in France now that the company’s acquisition of Group Ayme and its 104 points of sale has been completed. The deal was finalised yesterday, reports Bridgestone EMEA; the French competition authorities gave clearance and authorised the transaction without any restrictions.

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Doublestar the only bidder left to buy Kumho

Doublestar the only bidder left to buy Kumho

Friday 28th April 2017 | 0 Comments

Speaking off the record, Chinese executives within Qingdao Doublestar have confirmed the company’s intentions to purchase well-known South Korean tyre manufacturer Kumho Tyre and that it is “now only Doublestar left to buy Kumho”. However, at roughly the same time, Korean newspapers have been reporting that Doublestar probably won’t have the right to use the Kumho brand name post-acquisition. With all this in mind, Tyres & Accessories summaries the story so far.

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Kal Tire acquires Tyre Corporation’s South Africa business

Kal Tire acquires Tyre Corporation’s South Africa business

Tuesday 25th April 2017 | 0 Comments

The Kal Tire Mining Tire Group has acquired the South African operations of Tyre Corporation. It is hoped that the transaction, which took place for an undisclosed sum, will enable the growth achieved by Tyre Corporation in South Africa over the past decade to continue. It also gives Tyre Corporation’s customers access to Kal Tire services such as its exclusive Ultra Repair process for ultra-class tyres.

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Kumho Asiana’s Park no longer interested in Kumho Tire share

Tuesday 18th April 2017 | 0 Comments

Park Sam-koo won’t exercise his right of first refusal to acquire a stake in Kumho Tire. The Kumho Asiana Group chairman has described the Korea Development Bank’s decision to prevent him from funding the acquisition through formation of a consortium as “unfair,” and as a result Kumho Asiana has opted against participating in the sale of the 42.01 per cent shareholding.

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Aeolus becomes Prometeon Tyre Group

Thursday 13th April 2017 | 0 Comments

On 13 April TP Industrial Holding – a company controlled by CNRC (the tyre division of ChemChina) – confirmed that agreements have been signed with CNRC, Aeolus and High Grade (HK) Investment Management Limited for the full integration of its controlled Industrial activities with the other assets of the sector belonging to CNRC, including Aeolus and Guilin Beili. The formal finalization of this integration is expected by the end of the year, subject to the approval by the relevant authorities, with the contribution into Aeolus of the 52 per cent stake held in Prometeon Tyre Group (formerly Pirelli Industrial).

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Working hand-in-hand: Obo Tyres anticipates synergies with Magna Tyres Group

Working hand-in-hand: Obo Tyres anticipates synergies with Magna Tyres Group

Thursday 13th April 2017 | 0 Comments

While spent revellers slept or nursed New Year’s hangovers and the well-meaning scribbled out resolutions they’d struggle to keep for a week, let alone a year, on 1 January Obo Tyres began something more significant. The first day of 2017 was also the Dutch retreader’s first as member of the Magna Tyres Group. The acquisition of Obo was announced shortly before the festive season got under way, and the new arrangement enables Magna, a specialist in the field of new off-highway and truck tyres, to offer its range as a full lifecycle portfolio. The benefit to Obo Tyres is measurable in terms of access to new markets, improved casing supply and the opportunity to develop new and qualitatively superior products.

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Kumho Tire acquisition: problems on both sides

Wednesday 12th April 2017 | 0 Comments

Park Sam-koo says he won’t acquire a controlling stake in Kumho Tire from creditors unless they provide a definitive answer on specific conditions of sale. In a statement, Kumho Asiana has given the Korea Development Bank until 17 April to do this, otherwise it will not exercise its right of first refusal.

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