Sibur, Amtel complete Russian tyre venture

Newswire

MOSCOW, June 30 (Reuters) - Russian-Dutch tyre manufacturer Amtel-Vredestein said on Monday it will issue new shares and proceed with a private placement to allow petrochemical firm Sibur to have a controlling stake in a joint company involving the two firms. Amtel, which has suffered from debt refinancing problems, will issue almost 160 million new ordinary shares and plans to raise $150 million through a private placement of almost 80 million shares at $1.89 each. It will acquire Sibur ...

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