<p>The acquisition, valued at over Rs 1500 crore is to be funded by internal accruals as well as external loan finance, the company said. <br /><br />Further, the firm also said that the acquisition, which was approved by Apollo in the last week of April, and the requisite documents of the deal have been executed in the Netherlands on completion of all formalities and regulatory approvals. <br /><br />VBBV is a premium European passenger car tyres manufacturer and a 100 per cent subsidiary of Russia’s largest tyre maker Amtel-Vredestein N V or AVNV, which was declared bankrupt a few months ago. <br />It has a portfolio of high end, high speed rated passenger car tyres, having its manufacturing plant near Amsterdam with a production capacity of 5.5 million tyres per year.<br /><br /> The acquisition will pave the way for Apollo’s entry into Europe with manufacturing facility and market & distribution network of VBBV as well as access to the latter’s high end technology.</p>
<p>The acquisition, valued at over Rs 1500 crore is to be funded by internal accruals as well as external loan finance, the company said. <br /><br />Further, the firm also said that the acquisition, which was approved by Apollo in the last week of April, and the requisite documents of the deal have been executed in the Netherlands on completion of all formalities and regulatory approvals. <br /><br />VBBV is a premium European passenger car tyres manufacturer and a 100 per cent subsidiary of Russia’s largest tyre maker Amtel-Vredestein N V or AVNV, which was declared bankrupt a few months ago. <br />It has a portfolio of high end, high speed rated passenger car tyres, having its manufacturing plant near Amsterdam with a production capacity of 5.5 million tyres per year.<br /><br /> The acquisition will pave the way for Apollo’s entry into Europe with manufacturing facility and market & distribution network of VBBV as well as access to the latter’s high end technology.</p>
