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BRIEF-Goodyear Tire And Bridgestone Americas Announce Deal To Form A 50/50 JV

From Reuters - April 16, 2018

April 16 (Reuters) - Goodyear Tire & Rubber Co:

* GOODYEAR TIRE & RUBBER SAYS CO & BRIDGESTONE AMERICAS ANNOUNCED DEAL TO FORM A 50/50 JV - SEC FILING

* GOODYEAR TIRE & RUBBER CO - NO CASH WILL BE EXCHANGED BETWEEN PARTIES AS PART OF DEAL

* GOODYEAR TIRE & RUBBER CO - TOTAL ESTIMATED FAIR VALUE OF JV IS EXPECTED TO BE ABOUT $600 MILLION

* GOODYEAR TIRE & RUBBER CO - CO WILL RECORD PORTION OF FAIR VALUE OF TIREHUB AS AN EQUITY INVESTMENT ON CONSOLIDATED BALANCE SHEET

* GOODYEAR TIRE & RUBBER CO - ESTIMATED START-UP COSTS RELATED TO TIREHUB ARE ABOUT $40 MILLION & WILL BE SHARED EQUALLY BETWEEN CO & BRIDGESTONE

* GOODYEAR TIRE & RUBBER CO - CO EXPECTS TO RECORD MAJORITY OF SHARE OF START-UP COSTS IN OTHER INCOME & EXPENSE DURING FIRST & SECOND QUARTERS OF 2018

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