French tiremaker Michelin acquires Indonesian peer Multistrada for $439m

French tiremaker Michelin acquires Indonesian peer Multistrada for $439m

Traffic moves along a road during rush hour at dusk in Bandung, West Java province, Indonesia, on Monday, April 27, 2015. Photographer: Dimas Ardian/Bloomberg

French tire manufacturer Michelin has agreed to acquire Indonesian counterpart Multistrada Arah Sarana for $439 million to strengthen its presence in Southeast Asia’s largest market.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter