- The largest U.S. manufacturer of tires for car companies will sell the majority of its Goodyear Chemical arm to private equity firm Gemspring Capital in a deal expected to be finalized late this year. The $650 million in gross proceeds comes on top of the $1.6 billion it achieved from the sale of two other businesses earlier this year, reaching a key target from its Goodyear Forward restructuring plan.
Goodyear is close to closing the books on its divestment plan after the world’s third largest tire maker by volume struck a deal to sell most of its synthetic rubber business for $650 million in cash.
