Bridgestone to acquire stake in Nokian
Bridgestone Corp. will purchase 18.9% of Finnish tire manufacturer Nokian Tires PLC for 78.3 million euros.
Bridgestone will become Nokian's largest shareholder by acquiring Nokia Corp.'s holding stock of two million shares, according to an official statement from Bridgestone.
The two companies "will undertake a full range of mutually beneficial cooperation, from product development to marketing."
Bridgestone management has "pledged to honor Nokian's autonomy while building a strong partnership.
"The investment is a vote of confidence in Nokian's growth prospects."