Hankook Tire acquires Australia’s JAX Tyres

1st February 2017 | 0 Comments
Hankook Tire acquires Australia’s JAX Tyres
The JAX Tyres network is made up of 83 franchised outlets

Australia’s JAX Tyres is now entirely owned by Hankook Tire. On 23 January, the South Korean firm acquired a 100 per cent stake in the franchise network of tyre retailers from its principal shareholder, company chairman Fred Hurrell, and others. The deal covers 83 outlets in the eastern states of Australia. While Hankook Tire hasn’t disclosed the sum it paid for JAX Tyres, Pulse shares that market observers estimate a KRW 100 billion (£68.8 million) price tag for the transaction.

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Category: Company News, International News

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