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Sovereign Wealth Funds Briefing - Categorized | Market

RDIF leads consortium in the Russian tire industry

Posted on 20 June 2013

The Russian Direct Investment Fund (RDIF), Titan International Inc. and One Equity Partners LLC have reached an agreement with Russian tire producer Cordiant to invest in Voltyre-Prom, a Russian agricultural and industrial tire manufacturer. To shed additional detail on the involved entities, Titan International Inc., is one of the world’s largest manufacturers of agricultural and industrial tires that makes them under the Titan and Goodyear brands.
One Equity Partners is a subsidiary of JP Morgan Chase Co that manages private equity investments. This consortium will own a controlling stake in Voltyre-Prom with Titan International as the managing partner. Titan International is keen on growing their tire business in Russia and the Commonwealth of Independent State countries. The company is bullish on Russia’s burgeoning farming and mining industries……………………………………….Full Article: Source


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