Amtel-Vredestein & Sibur in Merger Discussions

1st February 2008 | 0 Comments
 

Amtel-Vredestein appears to be favouring the idea of a merger with Sibur-Russian Tyres. According to a statement released by the company on January 31, it has entered into preliminary discussions with Sibur Holding Joint-Stock Company regarding what it calls a possible “business combination” with its Sibur-Russian Tyres subsidiary. This news came just two days after Amtel-Vredestein reported difficulties re-financing its short term debt, and an article published in Russia’s Kommersant news says the company has requested “short term financing” from Sibur, although the amount of such a loan and how it would be used was not specified. Amtel-Vredestein is apparently also seeking from Sibur a supply of synthetic rubber for its facilities in Russia.

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