The Goodyear Tire & Rubber Company has completed the previously announced divestiture of the majority of its Goodyear Chemical business to an affiliate of Gemspring Capital Management, effective October 31, 2025, for a purchase price of US$650m, subject to adjustments.
At the time of closing, Goodyear received cash proceeds of approximately US$580m, which reflects working capital adjustments, including an adjustment for intercompany receivables.
“With the sale of our Chemical business, we have completed all of the planned asset sales included in our Goodyear Forward transformation program,” said Goodyear chief executive officer and president Mark Stewart.
“Additionally, we surpassed initial expectations, with total gross proceeds from the divestitures of approximately US$2.2bn.
