Apollo’s Vredestein Acquisition Worth $300 Million – Analyst

7th May 2009 | 0 Comments
 

The Apollo Tyres acquisition of Vredestein Banden, which should be finalised in late May, is said to be a deal worth in the vicinity of US$300 million. This figure was put forward by India’s Hindustan Times and was provided by an industry analyst who wishes to remain anonymous.

“Vredestein was bought over by Amtel in 2005 for $260 million so this acquisition would at least amount to $300 million,” said the analyst. “The deal is a win-win situation for Apollo as it not only gets access to high-end technology which it can also bring into India, but also a firm marketing and sales foothold in Europe.”

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