Yokohama Rubber to acquire KKR-owned Alliance Tire Group
NEWS Fri, Mar 25 2016 :
The Yokohama Rubber Co. Ltd has agreed to buy Alliance Tire Group, a Netherlands-based company led by Indian entrepreneur Yogesh Mahansaria, for $1.2 billion from private equity firm KKR & Co. Ltd. Yokohama Rubber, a Japanese maker of passenger-car tyres, will purchase all shares from KKR and other parties and expects to complete the acquisition by 1 July, according to a statement released on Friday.
The Yokohama Rubber Co. Ltd has agreed to buy Alliance Tire Group, a Netherlands-based company led by Indian entrepreneur Yogesh Mahansaria, for $1.2 billion from private equity firm KKR & Co. Ltd. Yokohama Rubber, a Japanese maker of passenger-car tyres, will purchase all shares from KKR and other parties and expects to complete the acquisition by 1 July, according to a statement released on Friday.
The deal is valued at about 2.2 times Alliance Tire’s annual sales and more than 12 times its operating profit for the 2015 fiscal year.
INDIA LISTED TYRE STOCKS :
| NAME | MARKET CAP | SALES 2015 | NET PROFIT 2015 | MC to S | MC to NP |
| APOLLO TYRE | 8918 | 12785 | 978 | 0.70 | 9 |
| BALKRISHNA INDS | 5992 | 3780 | 489 | 1.59 | 12 |
| CEAT | 4348 | 5592 | 299 | 0.78 | 15 |
| GOODYEAR INDIA | 1115 | 1579 | 101 | 0.71 | 11 |
| JKTYRE | 1930 | 6125 | 253 | 0.32 | 8 |
| MRF | 14984 | 13198 | 898 | 1.14 | 17 |
| TVS SRICHAKRA | 1819 | 1896 | 104 | 0.96 | 17 |