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Goodyear Completes Divestiture Of Off-The-Road (OTR) Tire Business

1. Goodyear divests OTR tire business to Yokohama for $905 million. 2. This divestiture marks a significant milestone in Goodyear's transformation strategy.

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FAQ

Why Bullish?

This divestiture provides Goodyear with liquidity and focuses on core operations, enhancing profitability. Similar strategic moves by companies have often resulted in improved market perception and stock stability.

How important is it?

The divestiture is a major strategic shift that can significantly impact Goodyear's financial health and focus moving forward.

Why Long Term?

The positive effects of strategic divestitures often take time to reflect in stock performance. In the past, such actions have led to sustained growth for companies prioritizing core business segments.

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YORUY
AKRON, Ohio , Feb. 3, 2025 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) ("Goodyear" or the "Company") has completed the previously announced divestiture of its off-the-road (OTR) tire business to The Yokohama Rubber Company, Limited, effective February 3, 2025, in an all-cash transaction valued at approximately $905 million. "The sale of the OTR business is a significant milestone in Goodyear's transformation," said Goodyear Chief Executive Officer and President Mark Stewart.

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