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Bridgestone to grab stake in Nokian

Japanese tyremaker Bridgestone is to acquire an 18.9 per cent stake in Nokian Tyres, Scandinavia's largest tyre maker.

Bridgestone Europe NV/SA, the Japanese company's wholly-owned Belgium-based subsidiary, will pay £53.22m for two million shares in Nokian, the company said.

The deal is Tokyo-based Bridgestone's latest foray into Europe, where it hopes to capture a larger share of the high-end car tyre market. Last December, the tyre maker said it would invest £265m to boost production at its plants in Poland and Spain.

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