Yokohama Rubber Co. has denied press reports that it is aiming to buy a majority of Alliance Tire Group (ATG), according to Tyres & Accessories. Rumors suggested that private equity firm Kohlberg Kravis Roberts is in discussions to sell its 90% stake in ATG to Yokohama.
“The reports are not based on any official announcement. We are always considering possibilities to grow our tire business. However to date we have not decided anything on any new acquisition,” a spokesperson for Yokohama told T&A.
While the reports are not based on any “official” announcement, statements from Yokohama do not completely rule out future acquisitions.