March 25, 2016 / 8:30 AM / 3 years ago

Yokohama Rubber to buy Alliance Tire Group for about $1.2 billion

TOKYO (Reuters) - Yokohama Rubber Co Ltd (5101.T) said on Friday it had agreed to buy Alliance Tire Group B.V. from private equity firm KKR & Co LP (KKR.N) and others for about $1.2 billion in a bid to expand its commercial tire business.

The Japanese company said in a statement it would buy all the shares of the Netherlands-headquartered company, with the deal expected to close on July 1.

KKR bought a controlling stake in Alliance Tire from Warburg Pincus in 2013, and sources at the time said it paid $500 million.

Reporting by Chris Gallagher and Ritsuko Ando

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