UPDATE 1-Sibur, Amtel form Russian tyre venture

Newswire

(Adds background, details, quotes) MOSCOW, June 30 (Reuters) - Russian petrochemical company Sibur is buying a controlling stake in indebted tyre manufacturer Amtel-Vredestein to form a top 10 global tyre-maker, the companies said on Monday. Under the terms of the deal, Amtel will buy Sibur's existing tyre making business through the issue of almost 160 million new ordinary shares to Sibur. Amtel, which has suffered from debt refinancing problems, also plans to raise $150 million ...

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