GURGAON, India (April 29, 2009)—Apollo Tyres Ltd. plans to buy Dutch tire maker Vredestein Banden B.V. from its parent, Amtel-Vredestein N.V.
The trustee in bankruptcy at the Almelo Court in the Netherlands has approved Apollo's offer to acquire a 100-percent stake in Vredestein Banden.
The parties said they would disclose other information, including price, only after certain conditions have been met and certain approvals, including regulatory and statutory approvals, are granted.