Private equity firm invests in Titan International
According to filings submitted to the US Securities and Exchange Commission, private equity firm MHR Fund Management has acquired nearly five per cent of Titan International’s shares and has options to boost its holdings to 10.9 per cent. On 9 January, MHR purchased 2.6 million shares in the tyre maker for approximately US$39.5 million. In addition, the company paid almost $28.2 million for options that give it the right to buy 3.24 million more shares for $26.3 million.