ITOCHU Co., a 4th-ranked trading company, announced that ITOCHU and ITOCHU Europe PLC have agreed to acqurie all the shares of the Kwik-Fit Group, an independent tire retailer in the UK and Europe, from PAI Partners, a European private equity firm, for £637 million. Since ITOCHU operates STAPLETON LTD, a UK-based leading wholesaler,
the Japanese trading house plans to enhance its tire business through this acquisition.
March 04, 2011
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WTI Crude is currently quoting at $45.93 per barrel, down 64 cents per barrel on the day. stock tips
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