CEAT has entered into a fifth addendum agreement to the existing Share Subscription and Shareholders’ agreement with Tyresnmore Online (Tyresnmore) and other parties, for making a further investment of upto Rs 9 crore in Tyresnmore on such terms and conditions as prescribed therein to acquire additional 10.89% of the fully diluted post issue total share capital of Tyresnmore.
Upon completion of the aforesaid investment, Tyresnmore shall become subsidiary of CEAT and the total holding of CEAT in Tyresnmore on a fully diluted basis would be 56.9%.
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.
