Not planning to convert Cooper deal debt into equity: Apollo

Apollo Tyres is not currently looking at converting into equity some of the debt it will take to finance its $2.5 billion deal to buy US -based Cooper Tire & Rubber Co, Chief Financial Officer Sunam Sarkar said.

Apollo shares fell as much as 8% on Friday, extending their 25%  drop on Thursday on worries about the company's debt profile after the acquisition of Cooper, a company nearly three times the Indian company's market value.