Trelleborg provides updated information on timing of divestment of Trelleborg Wheel Systems

In March 2022, Trelleborg Group signed an agreement to divest its business area Trelleborg Wheel Systems to Yokohama Rubber Company, with expected closing of the transaction in the latter part of 2022.

In connection with Trelleborg's third-quarter interim report, it was communicated that regulatory approval in a number of countries is still pending, and that the divestment of Trelleborg Wheel Systems was expected to be finalized within the next few months.

Trelleborg now wishes to clarify that the divestment will not be completed before year-end but is instead expected to take place during the first half of 2023, likely in the first months of the year.

On March 25, 2022, Trelleborg Group signed an agreement to divest its business area Trelleborg Wheel Systems to Yokohama Rubber Company for EUR 2,100 M on a cash and debt-free basis, which represents 13x the business area’s 2021 operational EBITDA, or 17.5x 2021 EBIT. Less than 3 percent of the purchase price is subject to the performance of Trelleborg Wheel Systems in 2022. The transaction will result in an estimated capital gain of SEK 6,000 M.