Tatneft applies for FAS approval to buy Nokian Tyres’s Russia business

Tatneft applied for Russian Federal Antimonopoly Service (FAS) approval for its plans to buy “a number of Russian subsidiaries of Finland’s Nokian Tyres” on 14 December.

The Interfax news agency quoted an FAS spokesman as saying: “The FAS of Russia has received applications from PJSC Tatneft for the acquisition of equity stakes in the amount of 100% in Nokian Tyres LLC, Hakka Invest LLC and Nokian Shina LLC from Nokian Tyres”.

The news follows Nokian’s adminssions earlier this month that there are “substantial uncertainties” relating to the timing of the Tatneft deal closure.