Sullivan & Cromwell and Freshfields Bruckhaus Deringer are advising on Japan’s Yokohama Rubber’s USD905 million acquisition of Ohio-based Goodyear Tire & Rubber’s off-the-road (OTR) tyre business.
Yokohama Rubber on 22 July that it had entered into an agreement with Goodyear, one of the world’s largest tyre companies, to acquire the latter’s OTR business, which provides specialised tyres for industries including mining and construction.
The Japanese tyres and wheels maker has mandated Freshfields as its legal adviser on the acquisition, which is expected to close by early next year. The Freshfields team is led by New York partners Paul Tiger and Sebastian Fain as well as Tokyo partners Takeshi Nakao and Noah Carr.
Goodyear has hired Sullivan & Cromwell as its legal counsel on the OTR tyre business sale. New York partners Melissa Sawyer and Scott Crofton are leading the transaction team.
Last year, Yokohama Rubber completed its acquisition of the wheel systems business of Sweden-based Trelleborg for EUR2.1 billion (USD2.3 billion), with Freshfields also acting as its legal counsel on the deal.
