Buyout firm TPG Capital has submitted a bid for a controlling stake in Multistrada Arah Sarana, Reuters reports. South Korea’s Hankook Tire and Japan’s Yokohama Rubber are also interested in the stake. TPG has bid jointly with its Indonesian affiliate Northstar Pacific. The Indonesian tire maker is expected to fetch about $200 million from the sale. The company’s controlling shareholders have hired HSBC as an adviser.

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