U.S. tire and rim maker Titan International is to pay $25 million in cash and issue $25 million in shares to satisfy a settlement put option exercised by one of two fellow shareholders in Voltyre-Prom, a Russian agricultural and industrial tire operation. (See Ag Equipment Intelligence, January 2019.)
The agreement was reached with Russian Direct Investment Fund (RDIF), as Titan executives negotiate a second put option from OEP, the third shareholder in the…
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