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Monday, January 30, 2023

Change in Timing of Acquisition of Trelleborg Wheel Systems Holding Ab

The Yokohama Rubber Co., Ltd., has announced that the acquisition of all outstanding shares of Trelleborg Wheel Systems Holding AB held by Trelleborg AB, which was announced on March 25, 2022, now is expected to be completed in the first half of 2023 rather than the originally planned second half of 2022.

1. Reason for change in timing of the acquisition

The acquisition of shares is subject to the completion of reviews by the competition law authorities of each country and region. Based on the current status and taking into account the period required for future procedures, the expected timing of the acquisition completion has been changed as follows:

2. Details of change in acquisition timing

Change in Timing of Acquisition of Trelleborg Wheel Systems Holding Ab

 

3. Future outlook

The change in the timing of the completion of this acquisition will have little impact on the Company’s fiscal 2022 consolidated financial results. Yokohama Rubber will promptly provide notification of the exact date of the share transfer once decided and any other related events that may emerge.

 

Source: Tyretradenews

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