Michelin: TBC Corporation to divest its Midas franchise network to focus on core businesses

Core Insights - TBC Corporation is divesting its Midas franchise network to concentrate on its core businesses, which include tire wholesale, distribution, and Big O Tires [2][3] - The divestiture is expected to enhance TBC's growth and value in its primary operations, while also strengthening the commercial agreement between Michelin and Mavis Tire Express Service Corp [3] - The transaction is anticipated to close in the coming weeks, pending regulatory approval, and is projected to positively impact Michelin Group's net result by approximately $200 million in 2025 [4]