The Goodyear Tire & Rubber Company has completed the sale of its rights to the Dunlop brand in Europe, North America, and Oceania to Sumitomo Rubber Industries, Ltd. (SRI), effective May 7, 2025. This transaction is a key action under the Goodyear Forward transformation plan, aimed at optimizing the company's portfolio.
Gross cash proceeds received at closing totaled $735 million. This amount was comprised of $526 million for the Dunlop brand, $105 million for a transition support fee, and $104 million for existing inventory. The successful completion of this sale provides significant capital for Goodyear.
Goodyear intends to use these transaction proceeds to reduce leverage, a critical component of its Goodyear Forward transformation plan. This move strengthens the company's balance sheet and allows for a sharper focus on its core portfolio of brands, supporting its objectives for margin expansion and debt reduction.
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