UK authority approves Yokohama Rubber’s TWS acquisition

As of this morning, The Yokohama Rubber Company has received clearance from all relevant authorities to acquire the Trelleborg Wheel Systems business from Trelleborg AB. The final hurdle, approval by the Competition and Markets Authority in the UK, has now been cleared and Yokohama and Trelleborg can begin finalising the necessary documentation required to formally close the transaction.

“The transaction now has been approved in all countries and regions that require prior approval based on the applicable antitrust laws,” writes Yokohama Rubber in a statement. “Yokohama Rubber will proceed with all remaining procedures necessary for completion of the share transfer, which is anticipated to take place in the first half of 2023. The company will promptly disclose when any matters that should be announced occur.”

The European Commission granted Yokohama Rubber unconditional antitrust clearance to acquire all outstanding shares of Trelleborg Wheel Systems on 24 March.