India's Apollo to pay $65 mln in Dunlop deal


MUMBAI, Jan 30 (Reuters) - India's Apollo Tyres Ltd. said on Monday its board had approved the acquisition of South Africa's Dunlop Tyres International Ltd. for about 2.85 billion rupees ($65 million). Dunlop Tyres has South African plants in Durban and Ladysmith, each having a capacity of 25,000 tons a year. Apollo will also get control of Dunlop subsidiaries in Zimbabwe and the United Kingdom, Apollo said in a statement. The purchase will provide access to the European and African ...

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