Michelin acquires Indonesian tire maker

摘要

FRANCE: Michelin has acquired 88% control of Indonesia's PT Multistrada Ara Sarana Tbk., producer and marketer of the Achilles and Corsa tire brands as well as a number of private brands. Michelin paid $480 million (€425 million) to acquire the publicly-listed shares, held by an investment group. The French tire maker said 8 March that it is launching a public offer for the remaining shares in Multistrada, at the same price it is offering the investor group. The deal provides Michelin with annual capacity of more than 180 kilotonnes of production and strengthens its presence in the fast-growing Indonesian market.