TOKYO -- Japan's Sumitomo Corp. will sell U.S. auto inspection and maintenance company Midas to Mavis Tire Express Service, the trading house said, as its replacement tire joint venture focuses more narrowly on tire wholesale and retail.
Business deals
Japan's Sumitomo to sell U.S. auto repair chain Midas
Proceeds from deal seen reaching $130m with tire business focusing on wholesale
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TBC, a joint venture between Sumitomo Corp. and Michelin, is moving away from auto maintenance to focus on its tire wholesale business. (TBC)
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