Hankook Tire block

Michelin sells Hankook Tire stake at 12.1% discount

The French tyre maker raises $558 million after the deal is priced below the original range at W41,000 per share.

<div style="text-align: left;"> Michelin is exiting its stake in Korea's Hankook Tire </div>

Anette Jönsson

November 09, 2011

French tyre manufacturer Michelin last night sold its entire 9.98% stake in Korea’s Hankook Tire through a block trade, ending a partnership between the two firms that started in 2003.

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