 "Apollo Tyres gains on board nod for acquiring Reifencom GmbH")
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The acquisition in cash of 100% of the equity shares carrying voting rights is estimated to cost 45.6 million euros, the company said in release.
The release also added that the acquisition will be completed in 1-3 months subject to regulatory and anti-trust approvals required in Germany and Europe.
The stock opened at Rs 155 and hit a high of Rs 160. At 12:50pm, over 3.1 million shares were traded on both the stock exchanges.
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