Trelleborg Shares Rally After $2.3 Billion Sale of Tire Unit
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Trelleborg AB saw its share price jump as much as 27% during early trading in Stockholm after agreeing to sell the tires business on which the Swedish industrial group was founded more than a century ago.
In what is one of the company’s most sweeping reorganizations since it was established in 1905, the Wheel Systems unit will be sold to Yokohama Rubber Co. Ltd. for 2.1 billion euros ($2.3 billion).