PT Multistrada Arah Sarana Tbk.: Michelin to leverage economies of scale with Multistrada privatisation

Although 99.64% Michelin owned, Indonesian tyre maker PT Multistrada Arah Sarana Tbk is currently a public company. This will soon change, and to facilitate Multistrada's delisting from the Indonesia Stock Exchange, Michelin has allocated funds of IDR 278.71 billion (£13.66 million) to conduct a tender offer. According to information disclosed by Multistrada on 29 December, Michelin intends to purchase the 0.36% stake owned by 646 public investors, 33,180,234 shares in total, for a tender offer price of IDR 8,400 per share. The post Michelin to leverage economies of scale with Multistrada privatisation appeared first on Tyrepress.