Yokohama Rubber signed agreement with KKR to acquire Alliance Tire Group

Mar 29, 2016 14:17 IST

The Yokohama Rubber Co. Ltd. on 25 March 2016 announced that it has inked an agreement with global investment firm KKR and other concerned parties to purchase all of the shares of Alliance Tire Group (ATG). The agreed equity value of the transaction is 1179 million US dollars.

The acquisition is a part of Yokohama Rubber's plans to expand its commercial tire business.

The acquisition is expected to be finalized on 1 July 2016, after completion of all necessary closing procedures, including regulatory approvals.

About Yokohama Rubber

The Yokohama Rubber Company Limited is a tire company based in Tokyo, Japan.

The company was founded in 1917 in a joint venture between Yokohama Cable Manufacturing and B.F. Goodrich.

In 1969, the company expanded to the United States as Yokohama Tire Corporation.

About KKR

KKR & Co. L.P. was formerly known as Kohlberg Kravis Roberts & Co.

It is an American multinational private equity firm, specializing in leveraged buyouts.

The firm sponsors and manages private equity investment funds.

It has completed over 400 billion US dollars of private equity transactions since its inception.

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