Sinochem-backed China National Tyre & Rubber completed the acquisition of a 38% stake in Prometeon Tyre Group from China Cinda Asset Management.

Synopsis

Sinochem-backed China National Tyre & Rubber, a rubber manufacturer, completed the acquisition of a 38% stake in Prometeon Tyre Group, a manufacturer of tires, from China Cinda Asset Management, a private equity firm. Financial terms were not disclosed.

Principals

target

Prometeon Tyre Group

bidder

China National Tyre & Rubber

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