JK Group set to acquire Kesoram Industries Ltd in Haridwar.

Q.  JK Group is set to acquire which BK Birla flagship firm tyre manufacturing plant in Haridwar for INR 2200 crore?
- Published on 14 Sep 15

a. Kesoram Industries Ltd
b. Cavendish Industrials Ltd
c. Birla Industries Ltd
d. None of the above

ANSWER: Kesoram Industries Ltd
 
JK Group through its wholly owned subsidiary JK Asia Pacific Singapore Pte Ltd has signed a binding term age agreement with JIL to acquire 100% equity in Cavendish Industries Ltd/CIL. JK Group will acquire BK Birla flagship firm Kesoram Industries’ tyre manufacturing plant at Haridwar. The enterprise value for this deal being INR 2200 crore, JK Tyre will hold biggest shareholding block and have management control of CIL.

The chairman of JK Tyre is Raghupathi Singhania and the acquisition will be funded through debt and internal accruals.

JK Tyre is among the top 3 automotive tyre manufactures in India. Another major acquisition by this company was of Mexican tyre firm Tornel for INR 270 crore.

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