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flag Goodyear sells Dunlop tire brand to Sumitomo Rubber for $701M, plans to cut debt.

flag Goodyear Tire & Rubber is selling the Dunlop tire brand to Sumitomo Rubber Industries for about $701 million. flag The sale includes Dunlop tires for consumers and commercial vehicles in Europe, North America, and Oceania, but Goodyear keeps rights for motorcycle tires in Europe and Oceania and licenses commercial truck tires in Europe. flag Goodyear will use the money to reduce debt and support its transformation plan.

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