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Sunday, December 6 - 2009

Dubai-based firm drops talks on Continental tyre plant

  • United Arab Emirates: Wednesday, October 07 - 2009 at 10:18

German auto parts maker Continental AG has said that negotiations with Dubai-based MAG Group on a possible takeover by MAG of a tyre making plant in France have been ended by 'mutual agreement,' AFP news agency has reported. Continental had given MAG until September 30 to reach agreement on a letter of intent regarding the factory, located in Clairoix, northern France. MAG 'would continue to examine the matter', MAG Vice President Fawaz Sabri said.

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