Tyre maker Amtel-Vredestein declared bankrupt

Newswire

MOSCOW, April 29 (Reuters) - Russian-Dutch tyre manufacturer Amtel-Vredestein was declared bankrupt on Wednesday by a court in the Netherlands, the company said in a statement. Its Netherlands-based subsidiary, Vredestein Banden NV, was excluded from the bankruptcy as it had separate financing arrangements. Amtel's bankruptcy trustee accepted an offer from Apollo Tyres to acquire the unit. "Apollo Tyres' board of directors today gave their approval to the management to proceed with ...

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