VINACHEM

Yokohama Rubber Co Ltd (5101.T) said on Friday it had agreed to buy Alliance Tire Group B.V. from private equity firm KKR & Co LP (KKR.N) and others for about $1.2 billion in a bid to expand its commercial tire business.

The Japanese company said in a statement it would buy all the shares of the Netherlands-headquartered company, with the deal expected to close on July 1. bit.ly/1WNmTlW

KKR bought a controlling stake in Alliance Tire from Warburg Pincus in 2013, and sources at the time said it paid $500 million.