Mobivia: Acquiring Michelin’s ATU shares makes sense from strategic standpoint
Michelin has divested its 20% share in ATU, a transaction that purchaser Mobivia describes as making sense “from a strategic standpoint” (Photo: ATU)
Yesterday we reported that Mobivia Group had reacquired from Michelin its 20% stake in ATU or would do so “in the next few days,” becoming once again sole owner of the German garage and automotive parts network. At the time, Mobivia hadn’t responded to requests for further information, but a statement from company headquarters arrived this morning and sheds some light on the reason behind the buyback. What’s more, further research suggests Michelin was unable to realise its purchase price when selling the stake.
Comments