Michelin bids to acquire all shares in SIPH

Paris – Groupe Michelin has filed a public tender offer in France to acquire 1,042,324 shares in natural rubber producer Société Internationale de Plantations d’Hévéas (SIPH) not currently under its control.

The cash offer of €85 per share was issued through 99.99%-owned subsidiary Compagnie Financière Michelin SCmA (CFM), “acting in concert” with the Ivory Coast company SIFCA, the tire maker said 6 June.

CFM and SIFCA “respectively hold 23.81% and 55.59% of SIPH’s capital and 25.33% and 62.89% of the voting rights and, in concert, 79.40% of…

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