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Client Work

Goodyear sells Engineered Products Division to Carlyle Group for US$1.475 billion

Fasken
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Goodyear Tire & Rubber Company

On August 1, 2007, global private equity firm The Carlyle Group announced that it had closed its purchase of substantially all of the Engineered Products Division of The Goodyear Tire & Rubber Company, in a transaction valued at US$1.475 billion. Through a long-term license agreement, products will continue to carry the "Goodyear" brand, while the legal name of the Division has been changed to "Veyance Technologies, Inc."
 
Goodyear was advised on the Canadian aspects of this transaction by Robin Hunter and Douglas Hamilton, in-house counsel for Goodyear Canada Inc., assisted by a team from Fasken Martineau that included Scott Conover, Lisa Marcuzzi and Stacey Stoneham (corporate); Craig Carter and Stéphane Lalande (real estate); Ross Gascho (pensions and benefits); Ralph Nero (labour and employment); Rosalind Cooper (environmental); Huy Do (competition); and David Johnson (banking).

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