Cooper Tire, Chengshan To End JV After Buyout Dispute

Law360, New York (January 31, 2014, 6:47 PM EST) -- Cooper Tire & Rubber Co. announced Friday that it has agreed to either sell its 65 percent interest in a joint venture with Chengshan Group Co. Ltd., worth about $283 million, or allow Chengshan to sell its 35 percent interest in the joint venture to Cooper, clearing the way for a sale of Cooper.

Chengshan and the joint venture, Cooper Chengshan Tire Co. Ltd., had vigorously opposed Cooper Tire's efforts to sell itself to Apollo Tyres Ltd. in a $2.5 billion all-cash deal. In January, investors...
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