PARIS, Nov 27 (Reuters) - Europe's biggest tyremaker Michelin (CGEM) said on Wednesday new shares created as a result of a buyout via a share swap of its quoted Swiss division would be on the market from Dec. 2.
Michelin, which is buying the 6.5 percent of Swiss-listed Compagnie Financiere Michelin it did not already own via a share swap, said the 5,974,709 new shares created as a result of the swap would be quoted on the Paris bourse from Dec. 2.
The new shares represent 4.2 percent of Michelin's capital.
Michelin offered 13 shares in Paris-quoted parent company Cie Generale des Etablissements Michelin in exchange for each CFM share in a move it has said will have no impact on earnings per share.