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. T he 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 0.3...