Goodyear OTR sale closes; pro forma shows $905M cash, debt repayments planned

GOODYEAR TIRE & RUBBER CO /OH/

Sale closed Feb 3, 2025; Yokohama paid ~$905M cash for Goodyear's OTR tire business.
Pro forma 9M 2024 net sales $13.76B vs reported $13.93B; net loss $11M vs $6M reported.
Pro forma FY2023 net sales $19.77B vs $20.07B; net loss $706M vs $689M reported.
Proceeds to redeem $500M of 9.5% Senior Notes due 2025 and repay $366M of revolving credit.
Goodyear entered into product supply agreement and trademark license with Yokohama.

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