India, Dec. 23 -- Magna Tyres Group has agreed to acquire Telescope Tyres Group, extending its footprint in Australia and strengthening its position in the Australasian market.

The transaction, announced on 22 December, will see Magna Tyres take ownership of the Australian tyre and service specialist, which operates multiple branches across regional New South Wales. Financial terms were not disclosed. The deal is expected to close in January 2026.

The acquisition expands Magna Tyres' regional presence in Parkes, Dubbo, Gunnedah and Cowra and adds Telescope Tyres' on-site, mechanical and fleet services to Magna's international product portfolio. The group said the combination would deliver operational synergies, including improvements in...