Market intelligence, trend analysis and forecasts for the Automotives industry across the regions

Industry / France

Michelin's Hankook Share Sale: A Smart Solution To Temporary Hitches

November 2011 | Company News Alert

French tyre manufacturer Michelin is selling its 9.98% stake in its South Korean counterpart Hankook Tire, a move which will help it raise close to US$610mn. BMI believes the move comes in response to the company's weakening cash situation, as it reported a negative free cash position of EUR634mn (US$874.5mn) during H111 compared with a positive cash flow of EUR426mn (US$587.6mn).

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