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Compagnie Generale des Etablissements Michelin SCA (MICP.PA)

MICP.PA on Paris Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Michelin Provides Update On Its Financing Arrangements In Proposed Acquisition Of Fenner PLC
Monday, 9 Apr 2018 03:37am EDT 

April 9 (Reuters) - Compagnie Generale des Etablissements Michelin SCA ::MICHELIN : UPDATE ON MICHELIN'S FINANCING ARRANGEMENTS IN RELATION TO THE PROPOSED ACQUISITION OF FENNER PLC.ON 6 APRIL 2018 ENTERED INTO A NEW COMMITTED CREDIT FACILITY WITH CRÉDIT AGRICOLE CORPORATE AND INVESTMENT BANK WHICH REPLACES INITIAL FACILITY.ALL TERMS AND CONDITIONS OF ACQUISITION REMAIN UNCHANGED..  Full Article

CFAO And Michelin Team-Up To Market Tires In Kenya And Uganda‍​
Wednesday, 21 Mar 2018 06:15am EDT 

March 21 (Reuters) - MICHELIN ::CFAO AND MICHELIN TEAM-UP TO MARKET HIGH-QUALITY TIRES IN KENYA AND UGANDA‍​.JOINT VENTURE OWNED 51 PERCENT BY CFAO AND 49 PERCENT BY MICHELIN.AGREEMENT FOR THE IMPORT AND DISTRIBUTION OF TIRES IN KENYA AND UGANDA.  Full Article

Michelin Says Agreed To Buy UK's Fenner In A 1.2 Bln Pound Deal
Monday, 19 Mar 2018 01:24pm EDT 

March 19 (Reuters) - Michelin ::CIE GEN ETA.MICHELIN - OFFER FOR FENNER PLC.RECOMMENDED CASH ACQUISITION OF FENNER PLC BY COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS MICHELIN SCA.EACH SCHEME SHAREHOLDER WILL RECEIVE 610 PENCE IN CASH FOR EACH FENNER SHARE.‍FENNER SHAREHOLDERS WILL BE ENTITLED TO RECEIVE , RETAIN A PROPOSED INTERIM DIVIDEND OF NO MORE THAN 2.1 PENCE PER FENNER SHARE TO BE DECLARED ON APRIL 25​.‍PRICE OF 610 PENCE PER FENNER SHARE REPRESENTS A PREMIUM OF 30.7 PER CENT. TO FENNER'S SHARE PRICE OF 467 PENCE AT CLOSE OF BUSINESS ON 16 MARCH ​.‍DIRECTORS OF FENNER CONSIDER TERMS OF ACQUISITION TO BE FAIR AND REASONABLE​.‍FENNER DIRECTORS INTEND TO RECOMMEND UNANIMOUSLY THAT FENNER SHAREHOLDERS VOTE IN FAVOUR OF SCHEME AT COURT MEETING​.‍HAS RECEIVED IRREVOCABLE UNDERTAKINGS TO VOTE IN FAVOUR OF SCHEME FROM 0.45 PER CENT. OF EXISTING ISSUED ORDINARY SHARE CAPITAL OF FENNER​.  Full Article

Michelin $600 Mln Non-Dilutive Convertible Bonds Due 2023‍​ - Bookrunner
Monday, 22 Jan 2018 05:16am EST 

Jan 22 (Reuters) - Michelin's bookrunner::$600M NON-DILUTIVE CONVERTIBLE BONDS DUE 2023‍​.SAYS USD DENOMINATED NON-DILUTIVE CASH SETTLED CONVERTIBLE BONDS AT REDEMPTION PRICE OF 100%.  Full Article

Michelin Completes USD 600 Mln Non-Dilutive Convertible 2023 Bonds Issue
Friday, 5 Jan 2018 09:15am EST 

Jan 5 (Reuters) - MICHELIN ::‍MICHELIN SUCCESSFULLY PLACES USD 600 MILLION NON-DILUTIVE CASH-SETTLED CONVERTIBLE BONDS DUE 2023​.REG-MICHELIN : SUCCESSFUL NON-DILUTIVE CONVERTIBLE 2023 BONDS ISSUE OF MICHELIN.USD-DENOMINATED DEBT WAS IMMEDIATELY CONVERTED INTO EUROS.‍BONDS WILL BE ISSUED AT AN ISSUE PRICE OF 95.50% OF THEIR NOMINAL VALUE ON JAN 10, EXPECTED SETTLEMENT DATE​.‍BONDS WILL HAVE A NOMINAL VALUE OF USD 200,000 PER BOND​.BONDS WILL NOT BEAR INTEREST AND WILL BE REDEEMED AT PAR ON NOVEMBER 10, 2023.‍BONDS HAVE BEEN OFFERED VIA AN ACCELERATED BOOKBUILDING PROCESS.CONSIDERING OFFERING, CO AGREED TO A LOCK-UP UNDERTAKING IN RELATION TO ITS SHARES AND EQUITY-LINKED SECURITIES.LOCK-UP FOR A PERIOD ENDING 60 CALENDAR DAYS AFTER SETTLEMENT AND DELIVERY DATE.  Full Article

Michelin's Non-Dilutive Convertible Bonds Offering Will Price At 95.5% - Bookrunner
Friday, 5 Jan 2018 05:54am EST 

Jan 5 (Reuters) - Michelin's Bookrunner::SAYS NON-DILUTIVE CONVERTIBLE BONDS OFFERING DEAL WILL PRICE AT 95.5% ON EXTENDED SIZE $600 MILLION; BOOKS CLOSE AT 11AM UK TIME.  Full Article

Michelin's Bond Offering Books Are Covered On Full Deal Size Of $600 Mln - Bookrunner
Friday, 5 Jan 2018 04:41am EST 

Jan 5 (Reuters) - Michelin's bookrunner ::SAYS NON-DILUTIVE CONVERTIBLE BOND OFFERING BOOKS ARE COVERED ON FULL DEAL SIZE OF $600 MILLION.  Full Article

‍Michelin Launches An Offering Of Non-Dilutive Cash-Settled Convertible Bonds Due 2023 For $500 Million
Friday, 5 Jan 2018 01:53am EST 

Jan 5 (Reuters) - Michelin ::‍MICHELIN LAUNCHES AN OFFERING OF NON-DILUTIVE CASH-SETTLED CONVERTIBLE BONDS DUE 2023 FOR $500 MILLION.MICHELIN SAYS OFFERING MAY BE INCREASED UP TO $600 MILLION IF THE INCREASE OPTION IS EXERCISED IN FULL.MICHELIN WILL PURCHASE CASH-SETTLED CALL OPTIONS TO HEDGE ITS ECONOMIC EXPOSURE TO POTENTIAL EXERCISE OF THE CONVERSION RIGHTS EMBEDDED IN THE BONDS .MICHELIN SAYS THE BONDS WILL NOT RESULT IN THE ISSUANCE OF NEW SHARES OR THE DELIVERY OF EXISTING SHARES OF MICHELIN UPON CONVERSION .MICHELIN INTENDS TO USE THE NET PROCEEDS OF THE ISSUANCE OF THE BONDS FOR GENERAL CORPORATE PURPOSES, INCLUDING PURCHASE OF CASH-SETTLED CALL OPTIONS .  Full Article

‍Michelin, Sumitomo to combine North American replacement tire distribution in 50-50 joint venture​
Wednesday, 3 Jan 2018 12:12pm EST 

Jan 3 (Reuters) - Michelin ::‍MICHELIN NORTH AMERICA INC. (MNAI) AND SUMITOMO CORPORATION OF AMERICAS (SCOA) TO COMBINE THEIR RESPECTIVE NORTH AMERICAN REPLACEMENT TIRE DISTRIBUTION AND RELATED SERVICE OPERATIONS IN A 50-50 JOINT VENTURE​.‍MICHELIN AND SUMITOMO CORPORATION TO CREATE SECOND-LARGEST PLAYER IN THE WHOLESALE TIRE MARKET IN THE UNITED STATES.BASED UPON THE ENTERPRISE VALUE OF EACH BUSINESS ($160M FOR TCI WHOLESALE AND $1,520M FOR TBC), MICHELIN WOULD CONTRIBUTE A CASH PAYMENT OF $630 MILLION TO SCOA AND TCI WHOLESALE TO EQUALIZE OWNERSHIP IN THE JV..  Full Article

Michelin Group Appoints New Leadership Team for North America
Tuesday, 19 Dec 2017 12:47pm EST 

Dec 19 (Reuters) - Michelin::MICHELIN SAYS HAS NAMED SCOTT CLARK AS NEXT CHAIRMAN AND PRESIDENT OF MICHELIN NORTH AMERICA, EFFECTIVE JAN 1, 2018.  Full Article

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Weaker China demand, regulation spell tough quarter for Europe's auto stocks: Goldman Sachs

LONDON Goldman Sachs analysts said slowing car demand in China and new fuel consumption regulations were hurting investors' sentiment toward European autos stocks and warned this results season could be challenging, hitting shares in the sector on Wednesday.