Goodyear Completes Divestiture Of Off-The-Road (OTR) Tire Business

The Goodyear Tire & Rubber Company (NASDAQ: GT) (« Goodyear » or the « Company ») has completed the previously announced divestiture of its off-the-road (OTR) tire business to The Yokohama Rubber Company, Limited, effective February 3, 2025, in an all-cash transaction valued at approximately $905 million.

« The sale of the OTR business is a significant milestone in Goodyear’s transformation, » said Goodyear Chief Executive Officer and President Mark Stewart. « Our portfolio is now more streamlined, driving further efficiencies and enhancing our focus on our core industry-leading products and services. »

Goodyear intends to use transaction proceeds to reduce leverage and fund initiatives in connection with the Goodyear Forward transformation plan.

Evercore acted as exclusive financial advisor and Sullivan & Cromwell LLP acted as legal advisor to Goodyear.

Source: Goodyear