Goodyear to sell OTR tire business to Yokohama for $905M cash; close expected early 2025

GOODYEAR TIRE & RUBBER CO /OH/

Purchase price of $905 million in cash for Goodyear's Off-the-Road tire business, including facilities in Japan and Canada.
Transaction expected to close by early 2025, subject to regulatory approvals and customary conditions.
Goodyear will supply certain OTR tires to Yokohama for up to 5 years post-close under a Product Supply Agreement.
Goodyear retains OTR tire business for U.S. military and defense applications.
Proceeds to be used to reduce leverage and fund Goodyear Forward transformation initiatives.

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