MUSCATINE, Iowa (March 21)—Tire Distribution Systems Inc. will sell nine retread plants and 19 stores to an independent Bandag franchised dealer and a previous Bandag dealer. The wholly owned subsidiary of Bandag Inc. plans to sell seven stores and three TDS retread facilities in Louisiana along with seven stores and three retread factories in Mississippi to Southern Tire Mart L.L.C., based in Columbia, Miss. As part of the deal, Southern Tire will have the option to purchase five retread plants and 10 stores in Texas. The proposed sale is subject to the execution of a definitive agreement and the continued availability of Southern Tire's financing. In the second transaction, which could be closed in two weeks, TDS will sell three retread plants and five stores in Arkansas to Trans American Holdings L.L.C., headquartered in Fort Smith, Ark. Terms of the transactions were not disclosed.
TDS to sell plants, stores
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