Michelin CGDEB (EU:ML)
Historical Stock Chart
1 Year : From Oct 2018 to Oct 2019
By Stephen Nakrosis
Michelin on Friday said it acquired an 88% stake in Indonesian tire manufacturer PT Multistrada Arah Sarana TBK.
The French company said it paid $480 million for the stake.
Michelin said they are launching a public offer for the remaining outstanding shares of Multistrada.
Michelin said Multistrada generated net sales of $281 million in 2017. As part of the deal, Michelin also acquired a 20% stake in retailer PT Penta Artha Impressi.
--Write to Stephen Nakrosis at email@example.com
(END) Dow Jones Newswires
March 08, 2019 12:20 ET (17:20 GMT)
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