Shanghai Michelin Warrior Tire Shares Transferred
According to an announcement made by Shanghai United Assets and Equity Exchange’s, Michelin is the transferee of the 30 per cent of the shares held in Shanghai Michelin Warrior Tire Co. Ltd. (SMWT) at the price of RMB 170,180,000 (₤15.6 million). A statement released by Michelin notes that “all of the parties agree that the transaction is in their best interests and is beneficial to the sustainable growth of SMWT and Warrior Brand”.