Michelin to Sell 40% of Stake in Anhui Warrior Joint Venture
20 Novembre 2017 - 01:54PM
Dow Jones News
By Nathan Allen
France's Compagnie Generale des Etablissements Michelin (ML.FR)
said Monday that it had reached an agreement to sell 40% of its
shares in the Chinese joint venture Double Coin (Anhui) Warrior
Tire Co.
Michelin said it would sell 30% of its stake to Shanghai Huayi
Group Corp. Ltd. (600623.SH), while Double Coin Tire Group Co.
would purchase the remaining 10%.
None of the parties disclosed financial details of the
transaction.
Michelin established the joint venture in 2011 in partnership
with the Huayi Group and the Double Coin Group to develop the
Warrior tire brand in China.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
November 20, 2017 07:39 ET (12:39 GMT)
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