Jakarta - PT Multistrada Arah Sarana Tbk (MASA) has taken over 99.93% of PT Michelin Indonesia's shares.

Based on the company's disclosure of information submitted to the IDX on Wednesday (6/7), the takeover has been approved by Michelin's shareholders and the Minister of Law and Human Rights. The transaction was executed on June 20, 2022.

"Thus this announcement is published in order to comply with the provisions of Article 122 of Law no. 40 of 2017 concerning Limited Liability Companies," Michelin Indonesia's management said in a written statement.