 "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.
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