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You are here: Home1 / News2 / Michelin sells Hankook shares for ‘12% discount’

Michelin sells Hankook shares for ‘12% discount’

Date: 9th November 2011 Author: Admin Comments: 0

Michelin is said to have sold some 15.2 million of its Hankook Tire shares for 623 billion won (£346.6 million) after announcing its intention to divest its 9.98 per cent stake in the Korean tyre maker. The accepted share price, says Hong Kong-based publication Finance Asia, was 12 per cent lower than the stock’s November 8 close price of 46,650 won per share and far below the indicative price range of 43,000-45,000 won.

The Hankook Tire share price dropped seven per cent following Michelin’s sale announcement, Reuters reported.

Related news:

  • Analysts: Hankook share sale is Michelin “cashing in on failed partnership”

  • Hankook share sale a boost for Michelin entry-level and medium production

Related news:

  1. Analysts: Hankook share sale is Michelin “cashing in on failed partnership”
  2. Tractamotors celebrates 25 years with Hankook in Ireland
  3. Rockwell now a Michelin preferred supplier
  4. Falling cost of sea freight is good news for tyre trade
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analysts, Asia, Hankook, Michelin, November, partnership, shares

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