Armen Sarkisyan’s S8 Capital group signed an agreement to acquire 100% of the shares of Russian JSC Kordiant. As a result, the company acquired three enterprises in Omsk and Yaroslavl. In this respect writer “Kommersant” referring to the holding’s message.
S8 Capital bought another tire asset – the company signed an agreement to buy 100% of the shares of Cordiant JSC. The periphery of the transaction included two production plants in Yaroslavl and Omsk, where there are three plants, as well as the Intyre R&D center and equipment repair center. At the same time, the amount of the transaction is not specified.
Analysts considered EBITDA to be about 5.5-6 billion rubles, taking into account the data of previously published reports of Cordiant JSC. Using average market multipliers, the overall valuation of the company can be at the level of 16.5-24 billion rubles.
According to experts, the tire market in Russia is quite promising. There is also growth potential, not only because of the wide access to artificial rubber, but also because of the market’s own capacity. In addition, automobile production in the CIS countries will increase over time, which may indicate a potential increase in supply.
In the message of the organization on May 26 pointedThat the Michelin company, which produces automobile tires in Davydov, near Moscow, has sold its Russian enterprise. The buyer of Russian assets was Power International Tires (Power International Tires LLC). The distributor takes over the tire factory and Camso CIS (Camso CIS LLC), which specializes in the sale of tires and tracks for special equipment.