2022062901

Successor

Compagnie Financiere Michelin SA

Event Publicly Available Information:

Is there a Successor to Compagnie Financiere Michelin SA?

The Eligible Market Participant that raises the question requests that the DC assess the impact of the following reincorporation events on standard CDS on the Reference Entity (eg is it a rename event or is there a Successor or is there another consequence?).
Effective 30th April 2021, Compagnie Financiere Michelin SA (Ticker: COMPFIAG, RED Code: HI6CEO) re-incorporated from Switzerland to France and on the same date, changed its name to Compagnie Financiere Michelin (Ticker: COMPFIAK, RED Code: FH212K).
And at the same time, checking the Swiss and French company registries:

Compagnie Financiere Michelin SA was a Swiss company and it is stated on the Swiss Central Business Name Index to have transferred its headquarters abroad to France and is now marked as deleted. The French entity is listed as Compagnie Financière Michelin, société par actions simplifiée, in Clermont-Ferrand (FR), registered with the trade and companies register under number 898 849 153 R.C.S. Clermont-Ferrand, in Clermont-Ferrand (FR), on 04.30.2021.
The Swiss company is stated to be deleted as of 30 November 2021.

https://www.zefix.ch/en/search/entity/list/firm/118996

The French registry shows that the new entity was incorporated in April 2021:

 
https://www.infogreffe.fr/entreprise-societe/898849153-compagnie-financiere-michelin-630321B007810000.html?typeProduitOnglet=EXTRAIT&afficherretour=false

DateDescriptionDocument
Closed

DC Decision

DC Meeting Statement

Ongoing

EMEA DC Meeting Statement - 16 September 2022

The EMEA DC met yesterday, Thursday 15 September 2022, to consider the DC Question regarding a potential Successor in respect of Compagnie Financiere Michelin SA. The EMEA DC agreed to meet again in due course to continue discussions.

Request Accepted by DC

Pursuant to the standing resolution passed by the EMEA Determinations Committee (DC) on June 21, 2010, the first meeting of the EMEA DC to deliberate the DC Questions relating to this DC Issue has been deferred pending deliberation of such DC Questions by the EMEA DC legal subcommittee.

Please refer to EMEA_DC_Standing_Resolution_210610.

Pending DC Consent