camso-michelin-acquisition

Michelin buying off-road tire maker Camso in €1.2bn deal

Clermont-Ferrand, France – Groupe Michelin has struck a deal to buy Camso Group, the Magog, Quebec-based off-road tire and rubber track producer, and plans to combine the business with its own OTR tire activities into a new division to be based in Quebec.

Michelin has agreed to pay $1.45 billion (€1.24 billion) for Camso, which the French company said represents an enterprise value of $1.7 billion, or a multiple of 8.3 times EBITDA after synergies. The transaction will not impact Michelin’s financial position.

Michelin said the deal…

To read more,please login or register below.

Register
This is the first step to more free
content, user offers, subscriptions
and more.
Login
Log in here using the Email Address
and Password you signed up with