Michelin owns 20% of Scandinavian Enviro Systems again after capital increase

Michelin once again owns 20 per cent of the shares in Scandinavian Enviro Systems (Enviro) following the dilution of its holding in May as a result of a new issue.

The increase in its holding resulted from Michelin, via its subsidiary, acquiring two million of the shares that were issued in May to Unwrap Finance AB. Enviro has no information about the purchase consideration or the acquisition price.

Michelin previously acquired 20 per cent of the shares in Enviro via Michelin Ventures SAS through a directed issue conducted in April 2020. Following that acquisition, Michelin became the largest owner of Enviro.

Michelin also owns 90 per cent of a Michelin/Enviro joint venture in Chile.