Michelin sells $613m stake in Hankook Tire

French tyre maker Michelin has launched a W683.8m ($613m) share sale in Korea’s Hankook Tire, and plans to sell its entire stake in the company after Hankook hit an all-time high.

  • 09 Nov 2011

Michelin is selling 15.196m shares in what will represent just under a 10% stake in Hankook, and will end an eight year strategic relationship between the two companies.

Michelin first bought into the company in 2003 but now wants to sell its stake to raise money to strengthen its ...

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