Sibur-Russian Tyres drops deal to take on tire-maker Amtel's debt

MOSCOW, March 13 (RIA Novosti) - Sibur-Russia Tyres said on Friday it was withdrawing from a deal to buy out the liabilities of a leading European tire producer, Amtel-Vredestein N.V.

"Sibur is withdrawing from the deal and suspending talks with creditor banks of the Amtel-Vredestein N.V. group as [Russian savings bank] Sberbank has made a decision not to take part in restructuring the tire holding's debts," the company said in a statement.

But Sibur said it was still interested in buying Amtel assets.