Compagnie Générale des Établissements Michelin (ENXTPA:ML) made an offer to acquire remaining 12.4% stake in PT Multistrada Arah Sarana Tbk (IDX:MASA) for approximately IDR 960 billion on April 15, 2019. Compagnie Générale des Établissements Michelin made the offer to acquire remaining 1.14 billion shares at IDR 843 per share. The consideration shall be payable on May 22, 2019 through a C-Best Book Transfer instruction to the accounts of the securities companies or custodian banks. The tender offer period will commence from April 16, 2019 to May 15, 2019. PT Raya Saham Registra acted as registrar to PT Multistrada Arah Sarana Tbk. BNP Paribas S.A. acted as financial advisor to Compagnie Générale des Établissements Michelin.

Compagnie Générale des Établissements Michelin (ENXTPA:ML) completed the acquisition of 12.05% stake in PT Multistrada Arah Sarana Tbk (IDX:MASA) for approximately IDR 930 billion on June 19, 2019.