Amtel, Sibur in talks over Russian tyre manufacture

Enschede, The Netherlands ­-- Amtel-Vredestein NV has said it is in preliminary discussions with Sibur Holding Joint-Stock Company (JSC), Russian petrochemical company, about a possible business combination with Sibur -Russian Tyres, the Russian tyre business owned by SIBUR.

A-V said, "As a result of such a business combination, Sibur may become one of the principal shareholders in the combined business through the issue of new equity.

There is no intention by Sibur and by any of the parties involved to make an offer to acquire Amtel-Vredestein existing share capital under the structure currently being discussed. The discussions are at a preliminary stage and there can be no certainty at this stage that the proposed business combination will be completed."

A-V added, "There is no intention by SIBUR and by any of the parties involved to make an offer to acquire Amtel-Vredestein N.V. existing share capital under the structure currently being discussed. The discussions are at a preliminary stage and there can be no certainty at this stage that the proposed business combination will be completed."