The diversified holding company S8 Capital, which develops high-tech services, has signed an agreement to buy the Russian assets of the German tire manufacturer Continental. In this respect Wrote The newspaper “Kommersant”, which refers to the press service of the Russian company.
“Diversified holding S8 Capital acquired Russian assets of Continental for further development… In the near future, these assets will undergo a rebranding (rename) procedure,” said Torsten Schubert, managing director of S8 Capital.
As the publication wrote, S8 Capital acquired a tire manufacturing plant in Kaluga and a distribution company (Continental Tires Rus LLC and Continental Kaluga LLC).
The price of the deal was not disclosed by the company. According to Kommersant, the assets of the German company could cost 7 to 10 billion rubles, which is comparable to the € 87 million that Continental estimated assets.
Kommersant newspaper in the second half of April WroteThe sale of the Continental tire factory in Kaluga, approved by the Russian authorities, to S8 Capital is delayed due to the German concern Continental seeking permission from the US Bureau of Industry and Security (BIS). Trade.