JK Tyres completes Kesoram unit buy

Our Bureau Kolkata | Updated on January 20, 2018 Published on April 13, 2016

JK Tyres on Wednesday completed acquisition of the Haridwar-based tyre manufacturing facility of Kesoram Industries.

The Kolkata-based Kesoram is a BK Birla Group outfit and had owned the Haridwar capacity through a subsidiary, Cavendish Industries.

In September last year, Kesoram announced its intention to sell the unit for ₹2,195 crore. Sources told BusinessLine that after due diligence the sale was finally fixed at around ₹2,150 crore.

SBI Caps was merchant banker. Kesoram also told the BSE that the deal was finally “concluded”.

The unit has truck, bus and two-wheeler tyres manufacturing facilities.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on April 13, 2016
This article is closed for comments.
Please Email the Editor