Yokohama Rubber to acquire KKR-owned Alliance Tire Group – Feedback

The Yokohama Rubber Co. Ltd has agreed to buy Alliance Tire Group, a Netherlands-based company led by Indian entrepreneur Yogesh Mahansaria, for $1.2 billion from private equity firm KKR & Co. Ltd.

Yokohama Rubber, a Japanese maker of passenger-car tyres, will purchase all shares from KKR and other parties and expects to complete the acquisition by 1 July, according to a statement released on Friday.
The deal is valued at about 2.2 times Alliance Tire’s annual sales and more than 12 times its operating profit for the 2015 fiscal year. Alliance Tire makes tyres for agricultural, industrial, construction, forestry machinery which it sells in 120 countries around the world, with a focus on the North American and European markets.

http://www.livemint.com/Companies/DTtH9WP1wG4TeT1F3QBgZN/Yokohama-Rubber-to-buy-Alliance-Tire-Group-for-about-12-bi.html

About news

We take care of publishing the latest investment news and highlights for Feedback

Leave a Reply

Your email address will not be published. Required fields are marked *