AKRON (dpa-AFX) - The Goodyear Tire & Rubber Company (GT) has finalized the sale of its off-the-road (OTR) tire business to The Yokohama Rubber Company, Limited, in an all-cash deal worth around $905 million, effective February 3, 2025.
The company plans to use the proceeds from the transaction to lower its debt and support initiatives under the Goodyear Forward transformation plan.
Evercore served as the exclusive financial advisor, while Sullivan & Cromwell LLP acted as the legal advisor to Goodyear.
Monday GT closed at $8.7 or 1.92% lower and after market hours closed at $8.75 or 0.57% higher on the Nasdaq Global Select Market.
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