Latham-Led Carlyle Sells $1.9B Unit To German Tire Maker

Law360, New York (February 10, 2014, 1:04 PM EST) -- Private equity giant Carlyle Group LP said Monday it will unload rubber and plastics maker Veyance Technologies Inc., which carries the Goodyear name, in a €1.4 billion ($1.9 billion) sale to German tire maker Continental AG, folding the Ohio company into a major auto parts supplier.

Through the deal, Continental said it will broaden the geographic reach of its ContiTech plastic and rubbers division, including into sought-after markets in the U.S. — where Veyance makes half its sales — and South America. The company will also...
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