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Compagnie Generale des Etablissements Michelin SCA (MICP.PA)

MICP.PA on Paris Stock Exchange

126.20EUR
16 Feb 2018
Change (% chg)

€3.05 (+2.48%)
Prev Close
€123.15
Open
€123.45
Day's High
€126.65
Day's Low
€123.45
Volume
650,928
Avg. Vol
487,591
52-wk High
€130.85
52-wk Low
€104.75

Latest Key Developments (Source: Significant Developments)

Michelin Completes USD 600 Mln Non-Dilutive Convertible 2023 Bonds Issue
Friday, 5 Jan 2018 

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 

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 

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 

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 

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 

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

Michelin says selling stake in Double Coin (Anhui) Warrior Tire
Monday, 20 Nov 2017 

Nov 20 (Reuters) - Compagnie Generale Des Etablissements Michelin Sca :Michelin says remains optimistic on long-term China growth and also says it is selling a stake it has in double coin warrior tire co. Ltd.Michelin has 40 percent of shares, says Qu'Huayi Group to buy 30 percent stake from it and other 10 percent to be taken by Double Coin.  Full Article

TomTom ‍selected to power Michelin's new mobile application for truck drivers
Wednesday, 4 Oct 2017 

Oct 4 (Reuters) - TOMTOM NV ::‍SELECTED TO POWER MICHELIN'S NEW MOBILE APPLICATION FOR TRUCK DRIVERS CALLED MICHELIN ROADCONNECT​.  Full Article

Michelin says raising European replacement tires prices
Friday, 3 Feb 2017 

Michelin statement says: Raising the price of its tires in the European replacement market by as much as 8 percent for the Passenger Car & Light Truck, Truck, Earthmover, Agricultural and Two-Wheel segments . Hike will will take effect by the end of first quarter. .Says raising its tire prices in order to pass on the increase in raw material costs..  Full Article

Michelin North America says company wins defense verdict in $80 mln rollover accident suit in Florida
Friday, 26 Aug 2016 

Michelin North America:Michelin wins unanimous defense verdict in $80 million rollover accident suit in Florida.  Full Article