Apollo signs Rs 14,500-Cr Deal with Cooper Tire
In a big business development, leading Indian auto company, Apollo Tyres is all set to acquire the US-based tyre-maker Cooper Tire & Rubber Company for Rs 14,500 crore ($2.5 billion).
Apollo expects to make its presence felt in a big way in the US and China following this grand acquisition. This is the highest outbound deal by any Indian company this year. In automobile sector, Tata Motors had acquired British luxury carmaker Jaguar Land Rover for Rs 9,200 crore in 2008.