Cooper Tire's (CTB) CCT Unit Valued at $440M, According to Independent Valuation

Cooper Tire & Rubber (NYSE: CTB) reported the results of the valuation of Cooper Chengshan (Shandong) Tire Company Ltd (CCT), which was completed by an independent firm responsible for determining a fair market value for CCT on a stand-alone basis, excluding the value of trademarks and technologies licensed by Cooper to CCT. The valuation, which is the option price, was determined to be RMB 2.722 billion or approximately US $440 million at the current exchange rate.

Under the option agreement announced August 15, 2014 between Cooper and Chengshan Group Company Ltd., upon delivery of the valuation, Chengshan has the first option

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