Groupe Michelin has expressed interest in purchasing Double Coin Holdings Ltd.'s 28.5% stake in the Shanghai Michelin Warrior Tire Co. Ltd. joint venture.
Shanghai Minhang United Development Co. Ltd., another shareholder in the venture, also plans to sell its 1.5% share.
Michelin, the venture's majority owner with a 70% stake, says acquisition of the entity's remaining shares is "in line with Michelin's long-term commitment to the China tire industry and to (Michelin's) stakeholders."
