CEAT has entered into third addendum agreement to the existing share subscription and shareholders’ agreement with Tyresnmore Online (associate of the company) and other parties, for making a further investment of up to Rs 2,40,00,000 in Tyresnmore , on such terms and conditions as prescribed therein to acquire additional 3.47% of the post issue total share capital of Tyresnmore. Upon the completion of the investment, the total holding of the company in Tyresnmore on a fully diluted basis would be 44.17%.
CEAT is among the best tyre manufacturers in India. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks. Besides tyres, the company also manufactures and markets tubes and flaps.
