Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand

11th March 2019 | 0 Comments
 
Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand

On Friday, Michelin announced its acquisition of 88 per cent of Indonesian tyre maker PT Multistrada Arah Sarana TBK (Multistrada) for US$480 million. The share purchase was completed in line with the terms announced on 22 January 2019 and after obtaining all necessary approvals. As part of the transaction, Michelin also takes on a 20 per cent stake in the tyre retail and automotive service chain PT Penta Artha Impressi, as well as 50 hectares of land.

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