3 Jan 2023
Two companies now expect to complete the deal “within the next few months”
Trelleborg, Sweden – Trelleborg AB has announced that the closing of a €2.1 billion deal to divest Trelleborg Wheel Systems has been delayed due to pending approvals by regulatory authorities.
In March last year, Trelleborg Group signed the agreement to divest the off-road and agricultural tire production business to Japan’s Yokohama Rubber Co., with expected closing of the transaction by the end of 2022.
In a statement 27 Dec 2022, Trelleborg said that regulatory approval in a number of countries was still pending, and the divestment was therefore expected to be finalised “within the next few months.”
“Trelleborg now wishes to clarify that the divestment will not be completed before year-end but is instead expected to take place during the first half of 2023, likely in the first months of the year,” it added.
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