Michelin Sells $610 Million of Hankook Tire Stock, Terms Show

Cie Generale des Etablissements Michelin (ML) is selling its 9.98 percent stake in Hankook Tire Co. for as much as $610 million, according to terms for the deal obtained by Bloomberg News.

The shares are being offered at 43,000 won to 45,000 won apiece, the terms show. Hankook Tire fell 2 percent to 46,650 won in Seoul trading today.

To contact the reporter on this story: Philip Lagerkranser in Hong Kong at lagerkranser@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net

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