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Chengshan to buy out Cooper for US$286 million

Author: Tyrepress Editors Comments: 2

Chengshan Group Company Ltd. intends to acquire Cooper Tire & Rubber Company’s 65 per cent ownership in the two companies’ Cooper Chengshan (Shandong) Tire Company Ltd (CCT) joint-venture. Owing to the fact that the purchase offer is based on a pre-agreed “call option”, which itself is priced on the back of an agreed valuation of US$440 million, this means Chengshan has agreed to pay roughly US$286 million for the company. Cooper’s share price fell a dollar from around $29 to roughly $28 in response to the announcement.

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Related news:

  1. Cooper: Chengshan worth US$440 million, say valuers
  2. Fire at Cooper Chengshan Rongcheng factory
  3. Cooper Tire gives Chengshan option to buy, values CCT at US$435 million
  4. Cooper Tire acquiring majority share in Chinese truck tyre maker
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simpleNewz - Tyrepress RSS Feed for 2014-10-12 October 12, 2014
[…] Chengshan to buy out Cooper for US$286 million […]
simpleNewz - Tyrepress RSS Feed for 2014-10-11 October 11, 2014
[…] Chengshan to buy out Cooper for US$286 million […]
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