Companies

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.

Published on April 13, 2016
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