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Citigroup lands role on $1.6bn Michelin deal

US bank secures one of its biggest European ECM mandates of the year with role on French tyre maker's rights issue

Citigroup has landed one of its biggest equity capital markets mandates of the year with a role on French tyre maker Michelin's $1.6bn rights issue.

Michelin today launched the $1.6bn capital raising to finance expansion in emerging markets, enhance the company's credit rating and reinforce the company's financial flexibility.

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