Hiratsuka, Japan—The Yokohama Rubber Co., Ltd., has announced that, on March 24 (Europe local time), the European Commission granted unconditional antitrust clearance of the planned acquisition of all outstanding shares of Trelleborg Wheel Systems Holding AB (hereinafter, TWS), a Swedish company engaged in the manufacture and sale of off-highway tires for agricultural and industrial machinery, which was originally announced on March 25, 2022.

The proposed acquisition is currently under review by the Competition and Markets Authority (United Kingdom). Its decision is expected to be announced in the near future.

Yokohama Rubber anticipates the transfer of all outstanding shares of TWS to be completed in the first half of 2023. The company will promptly disclose when any matters that should be announced occurs.