Tires / Rubber Products
Rubberex Corporation (M) Berhad's Subsidiary Announces acquisition Of The Glove Business And Entire Production Facilities From Alliance Rubber Products Sdn Bhd
Rubberex Corporation (M) Berhad announced that its sub-subsidiary, Rubberex Alliance Sdn Bhd (formerly known as Biogreen Medical Sdn Bhd), has agreed on July 03, 2013 to purchase from Alliance Rubber Products Sdn Bhd, its glove business and entire production facilities for the manufacture of nitrile and latex disposable gloves, for a total consideration of MYR113,000,000.00. The Acquisition would be strategic and synergistic to RCM’s existing operation. The Acquisition will be part-funded by bank borrowings and internally generated funds.
Tokai Rubber Industries Ltd Completes Acquisition of Produflex Minas Industria de Borrachas Ltda
Tokai Rubber Industries Ltd announced that it has completed to acquire a 100% stake in Produflex Minas Industria de Borrachas Ltda., on July 1, 2013.
Consortium of RDIF, Titan International Inc, One Equity Partners to Buy Voltayr-prom OAO from Cordiant-Interfax
Interfax reported that a consortium of the Russian Direct Investment Fund (RDIF), agricultural machinery tire producer Titan International Inc (Titan), and the fund One Equity Partners has struck a principled agreement with the holding Cordiant concerning investment in Voltayr-prom OAO (Voltair-Prom), an RDIF statement says. The parties to the deal intend to wrap it up soon. The consortium will thereby become the owner of a controlling stock interest in Voltair-Prom and Titan will be a managing partner.
Apollo Tyres Ltd's Subsidiary To Acquire Cooper Tire & Rubber Company
Apollo Tyres Ltd and Cooper Tire & Rubber Company announced that the execution of a definitive merger agreement under which a wholly owned subsidiary of Apollo will acquire Cooper in an all-cash transaction valued at approximately $2.5 billion. Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, Cooper stockholders will receive $35.00 per share in cash. The transaction represents a 40% premium to Cooper's 30-day volume weighted average price. Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. served as financial advisors and investment firm Greater Pacific Capital acted as strategic and financial advisor to Apollo. Standard Chartered is the sole provider of transaction financing at the Apollo Tyres level and is also the structuring advisor. Morgan Stanley Senior Funding, Inc., Deutsche Bank Securities Inc., Standard Chartered and Goldman Sachs Bank USA are joint lead arrangers providing committed funding to Apollo's acquisition subsidiary.
Apollo Tyres Ltd's Subsidiary To Acquire Cooper Tire & Rubber Company
Apollo Tyres Ltd and Cooper Tire & Rubber Company announced that the execution of a definitive merger agreement under which a wholly owned subsidiary of Apollo will acquire Cooper in an all-cash transaction valued at approximately $2.5 billion. Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, Cooper stockholders will receive $35.00 per share in cash. The transaction represents a 40% premium to Cooper's 30-day volume weighted average price. Morgan Stanley & Co. LLC and Deutsche Bank Securities Inc. served as financial advisors and investment firm Greater Pacific Capital acted as strategic and financial advisor to Apollo. Standard Chartered is the sole provider of transaction financing at the Apollo Tyres level and is also the structuring advisor. Morgan Stanley Senior Funding, Inc., Deutsche Bank Securities Inc., Standard Chartered and Goldman Sachs Bank USA are joint lead arrangers providing committed funding to Apollo's acquisition subsidiary.
Camfin SpA Announces Lauro Sessantuno (Newco) Acquires 60.99% Stake in Company and to Launch Mandatory Tender Offer on Camfin SpA
Camfin SpA announced that the agreements for the acquisition by Lauro Sessantuno (Newco) of an aggregate shareholding in the corporate capital of Camfin equal to 60.99% thereof have been executed. The shareholders of Newco are Lauro Cinquantaquattro (fully controlled by Clessidra SGR on behalf of Fondo Clessidra Capital Partners II), Intesa Sanpaolo, UniCredit and Nuove Partecipazioni, which is in turn participated by Gruppo Partecipazioni Industriali (GPI), Marco Tronchetti Provera Partecipazioni, Yura International B.V., Vittoria Assicurazioni and Fidim. The acquisition by Newco of the controlling stake in Camfin follows the agreement between Marco Tronchetti Provera & C., Marco Tronchetti Provera Partecipazioni and GPI, on the one hand, and Malacalza Investimenti, on the other, concerning the cessation of the partnership begun in 2009. The transaction also entails the obligation to launch a tender offer for the entire corporate capital of Camfin, having as object the shares of the latter not held by Newco. The price per Camfin share for the tender offer, based on the highest price in the context of the transaction, shall be equal to EUR 0.80. Newco is the entity designated by the parties to carry out the tender offer, which shall be launched with the timing required by the law. The tender offer is also aimed at the delisting of Camfin shares and, in the event the conditions for it exist, the shortening of the control chain through the merger of Newco and Camfin.
Tokai Rubber Industries Ltd Completes Acquisition of Anvis Group GmbH
Tokai Rubber Industries Ltd announced that it has completed the acquisition of a 100% stake in Anvis Group GmbH on May 28, 2013 (Germany time), for approximately EUR 135 million in total.
Goodyear (Thailand) PCL Divests Machinery to Goodyear India Ltd
Goodyear (Thailand) PCL announced that on 19th and 20th December 2012, the Company has entered into a transaction with Goodyear India Ltd, a subsidiary of Goodyear Tire and Rubber Company, who also holds 66.79% of the issued shares of the Company. In this connected transaction, the Company has sold the machinery, namely, Press 45"-Press Body, Taku uni stage, Curing Press, Auto Painting Booth, Taku R2.5 and Tire Building machine, totaling 11 machines in the total price of THB 87,454,256.63 to Goodyear India Ltd.
Sailun Co Ltd Fully Acquires Qingdao-based Company
Sailun Co Ltd announced that it has acquired a 100% stake in a Qingdao-based container service company for RMB 21,422,400. After the acquisition, the Company will merge with the Qingdao-based company and the Qingdao-based company will be dissolved.
Avon Rubber PLC Acquires VR Technology and Freehold Premises in Picayune
Avon Rubber PLC announced that it has acquired the business and assets of VR Technology, a company manufacturing diving rebreather systems and dive computers. The Company also announced that it has acquired purpose built freehold premises in Picayune, USA, for use by its subsidiary Avon Engineered Fabrications in anticipation of the expiry of the lease of its existing premises on September 30, 2013.
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Analyst Research
| Report Title | Price |
|---|---|
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Provider: Bohai Securities Co.,Ltd.
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$23.00
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Provider: GlobalData
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$125.00
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Provider: SADIF-Investment Analytics, S.A.
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$25.00
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Provider: Auerbach Grayson & Co., Inc.
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$25.00
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Provider: Wright Reports
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$65.00
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