Hankook Tire has dropped a plan to take over Indonesia’s Multistrada Arah Sarana, according to a a regulatory filing.

The tyre maker was among bidders for a controlling stake worth at least US$200m in the Indonesian company, along with buyout firm TPG Capital and Japan’s Yokohama Rubber, sources told Reuters earlier.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Just Auto Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Auto Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving automotive industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now