Amtel planning to buy Vredestein Banden

Enschede, Netherlands–Vredestein NV has confirmed that it is in detailed discussions about selling its tyre unit to Russian tyre maker, Amtel. Rob Oudshoorn chief executive of the Dutch company confirmed to ERJ that talks are going well and he expects the sale to go through by the beginning of 2005.

Amtel said in a statement, “The transaction, anticipated to close by February 2005, will involve the purchase by Amtel Holdings Holland N.V., the parent company of Amtel, of Vredestein Investment Consortium (VICO) N.V.’s interest in…

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