PT Indomobil Sukses Internasional Tbk, controlled by Salim Group, considers to acquire 20%-25% stake in tire maker PT Multistrada Arah Sarana Tbk (MASA) at the price consideration of IDR400-IDR450 per share from major controlling shareholders.
Referring to the price consideration, Indomobil will spend IDR488 billion-IDR688.5 billion to acquire 1.22 billion shares-1.53 billion shares in Multistrada.
As of June 2010, PVP XVIII Pte Ltd Singapore controls 27.7% stake in Multistrada, Prudent Capital Ltd Malaysia owns 14.9% stake, The Bank of New York Melon Corporation holds 7.3%, and public shareholders hold 50.1%.
Multistrada posted a 37.08% jump in earning from IDR65.21 billion in 1H 2009 to IDR89.39 billion in 1H 2010. Operating profit rose 59.66% from IDR76.93 billion in 1H 2009 to IDR122.83 billion in 1H 2010. Revenue climbed 23.77% from IDR813.59 billion in 1H 2009 to IDR1 trillion in 1H 2010.
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