Japan's Toyo Tire buys Malaysia's Silverstone

The deal is another example of Japanese companies casting their nets for deals that let them leverage the strength of the Japanese yen to diversify their businesses outside of Japan.

Lara Wozniak

October 22, 2010

Japanese company Toyo Tire & Rubber announced yesterday that it has agreed to acquire all of the shares of Malaysia-based tyre manufacturer Silverstone from Silverstone Corp for M$462 million (around $150 million) in cash. Silverstone Corp is a subsidiary of the Lion Group, a Malaysian conglomerate.

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