12 Jan 2015
Clermont-Ferrand, France – Michelin has announced that it has engaged an investment services provider to help it carry out a share buyback programme - as authorised by its annual shareholders meeting of 16 May 2014.
Under an agreement signed on 9 Jan, the investment services provider is to manage the buy-back of 1 million Compagnie Générale des Établissements Michelin shares.
The programme is to take place between 12 Jan and 27 Nov 2015, at an average price to be determined “objectively and independently” by the market over the duration of the agreement, less a guaranteed discount.
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