Michelin makes a move for Sascar

Michelin makes a move for Sascar

M&A

Michelin plans to buy Brazilian logistics company Sascar for BRL1.35bn ($607m), a move that would allow the French tire company to expand operations in Brazil and South America. Michelin said Sascar is worth around BRL1.6bn, which includes the purchase price of BRL1.35bn and BRL247m in debt. Private equity firms GP Investments and BRZ Investimentos together held 56% of the company. GP would make around $260m from its 46% holding in Sascar, a return on capital in dollars of 2.6 times over three y

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