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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.
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