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Titan sells 10% of Wheels India for $19M

|About: Titan International, Inc. (TWI)|By:, SA News Editor

Titan International (NYSE:TWI) has sold a chunk of Wheels India Ltd. for about $19M.

The company has completed the sale of shares amounting to a 10.4% stake in Wheels India -- one of the world's largest makers of steel wheels -- in on-market trades.

That cuts Titan's indirect holdings to about 23.8% from 34.2%.

Titan will use proceeds to pay down outstanding indebtedness.

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