Amtel-Vredestein & Sibur Hold Business Combination Discussions

A statement released by Amtel-Vredestein on January 31 indicates the company has entered preliminary discussions with Sibur Holding Joint-Stock Company regarding a possible business combination with its Sibur-Russian Tyres subsidiary. As a result of such a business combination, says Amtel-Vredestein, Sibur may become one of the principal shareholders in the combined business through the issue of new equity.

According to the Amtel-Vredestein statement there is, under the structure currently being discussed, no intention on the part of Sibur or any of the parties involved to submit an offer to acquire existing Amtel-Vredestein N.V. share capital. The discussions are at a preliminary stage and Amtel-Vredestein adds it is still uncertain whether the proposed business combination will come to fruition.

Further announcements, says the manufacturer, will be made “as and when appropriate.”