HIRATSUKA, Japan — Yokohama Rubber Co. Ltd. has all the regulatory approvals it needs to finalize its purchase of Trelleborg Wheel Systems A.B.
The United Kingdom's Competition and Market Authority (CMA) gave the $2.3 billion deal its stamp of approval on March 28. The CMA approval was the last that the companies needed to proceed with the sale, and it came just days after the European Commission cleared the transaction.
"As a result, the transaction now has been approved in all countries and regions that require prior approval based on the applicable antitrust laws," Yokohama said in a statement. "Yokohama Rubber will proceed with all remaining procedures necessary for completion of the share transfer, which is anticipated to take place in the first half of 2023."
CMA launched its antitrust investigation into the transaction late in January. Trelleborg A.B., at the time, called the procedure "normal."