Continental To Acquire Stake In Sime Darby

German tyre giant Continental has signed a joint venture with Malaysian industrial conglomerate Sime Darby Bhd and is taking a 30 per cent stake in Sime Darby’s tyre operations – DMIB Bhd and Sime Tyre International Malaysia Sdn Bhd (STI). Continental’s equity stake will be in a new company – SDC Tyre Sdn Bhd – that will become the holding company of both DMIB and STI. The agreement also provides the option for Continental to obtain a further 21 per cent (controlling) share in the new company in two years time.