Apollo to Buy ‘Overseas Tyre Maker’

Apollo Tyres Ltd is close to acquiring a south east Asian tyre maker, according to CNBC reports. Reuters reported that the acquisition is expected to be completed early next year. No details have been given about which firm will be bought or the value of the deal.

“We cannot comment on speculation that is not attributed to anyone. We have said we will continously keep looking at opportunities and there is no change in our stance,” Sunam Sarkar, chief of corporate strategy and marketing at Apollo Tyres, told Reuters. In early 2006 Apollo bought Dunlop South Africa for about 2.