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Michelin wants to buy rest of China JV

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Groupe Michelin has expressed interest in purchasing Double Coin Holdings Ltd.'s 28.5% stake in the Shanghai Michelin Warrior Tire Co. Ltd. joint venture.

Shanghai Minhang United Development Co. Ltd., another shareholder in the venture, also plans to sell its 1.5% share.

Michelin, the venture's majority owner with a 70% stake, says acquisition of the entity's remaining shares is "in line with Michelin's long-term commitment to the China tire industry and to (Michelin's) stakeholders."

 

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