Goodyear Tire & Rubber plans to sell its Dunlop brand to Japan’s Sumitomo Rubber Industries for about $700 million. The Ohio-based tiremaker said Tuesday that it agreed to sell the Dunlop trademarks and intangible assets in Europe,

Goodyear Tire & Rubber (NASDAQ:GT) said Tuesday it agreed to sell its Dunlop tire brand to Japan's Sumitomo Rubber Industries for $701M in cash. Under the deal terms, Goodyear (GT) said it will continue to manufacture,

(Reuters) -Goodyear Tire & Rubber Co said on Tuesday that it will sell its Dunlop brand to Japan's Sumitomo Rubber Industries for $701 million in cash as part of a plan to streamline its business. The sale covers the Dunlop brand and its trademarks in Europe, North America and Oceania, the company said.

Goodyear sells Dunlop brand to Sumitomo Rubber for $701 million. Deal includes brand transfer, ongoing agreements, and debt reduction.

Goodyear has signed a long-anticipated agreement to sell the venerable Dunlop tire brand — which has roots back more than 130 years — to Sumitomo Rubber Industries Ltd. (SRI) for approximately $701 million in cash.

Goodyear announced on Tuesday that it will sell the Dunlop brand to Sumitomo Rubber Industries Ltd. for an estimated $701 million.