Apollo Tyres, a tyre maker company, is planning to acquire Cooper Tire & Rubber Company of the US for Rs 14,500 crore.

The acquisition will occur through a wholly owned arm of Apollo Mauritius Holdings. This deal will enable Apollo to enter Chinese and US markets. Cooper Tire & Rubber is the parent company of a global group of firms that specialises in the design, manufacture, marketing, and sales of car and light truck tyres. 

The acquisition will be funded by a consortium of four investment banks: Deutsche Bank, Goldman Sachs, Morgan Stanley, and Standard Chartered. They will raise $ 2.5 billion (approx Rs 14,567.5 crore) in new debt for the deal. Of the total, around $ 1.8 billion (approx Rs 10,488.6 crore) will be raised through issue of bonds, while another $ 300 million (approx Rs 1,748.1 crore) will be brought in by way of asset-based lending through a step-down subsidiary based in Europe.