Michelin Tyre plc

1. Title of report: Michelin Tyre plc and National Tyre Service Ltd (MMC - Cm 986)

2. Date of report: 30 January 1990 Published: 7 March 1990

3. Orders: N/A

4. Date of original undertakings: 1 March 1991

5. Companies giving undertakings: Michelin Tyre plc

6. Details of undertakings: Divestment undertakings

(i) To complete not later than 31 March 1991 the disposal of all NTS outlets involved in the distribution of truck tyres ('the Outlets') in accordance with a purchase and subscription agreement dated 21 February 1990 and other related agreements ('the Agreement').

(ii) After such disposal and except as expressly provided in the Agreement:

(a) not to acquire or re-acquire any interest in any Outlet or in any assets of any business carried on at any Outlet;

(b) not to hold any shares or any other interest in any undertaking (an Undertaking) owing or carrying on business at any Outlet;

(c) not to participate in the formulation of the policy of the business carried on at any Outlet of any Undertaking;

(d) to procure that no employee or director of Michelin will hold any directorship or managerial position in any Undertaking and not to nominate any person to any such directorship or managerial position.

(iii) Nothing in paragraph (ii) above shall prevent the acquisition in the ordinary course of business of any assets or interests in assets, provided that the prior written consent of the Director General is obtained for the acquisition or re-acquisition of any interest in any Outlet.

7. Date of amendments: N/A

8. SIC code: 25.11 (Manufacture of tyres)

50.20 (Supply and distribution of replacement tyres)

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