Amtel-Vredestein Obtains Credit for Moscow Tyre Plant Acquisition

Europe’s fourth largest tyre producer, Amtel-Vredestein N.V. announced that its subsidiary, OJSC Amtel-Vredestein, along with CJSC Moscow Tyre Plant-M have secured three lines of credit totalling almost £39 million with the Russian Federation’s Sberbank in order to finance costs associated with its acquisition of the Moscow Tyre Plant. These costs include the restructuring and refinancing of the factory’s debts.

The first and largest line of credit will operate for seven years and will be used to finalise the 100% acquisition of shares belonging to CJSC Moscow Tyre Plant-M and LLC ShinTech. The second and third lines of credits will be utilised to refinance existing loans and finance ongoing investments.