Bekaert-Pirelli steelcord deal expected to close in Q1 2015

Upon releasing its latest financial results, Pirelli provided an update on the deal to sell its steelcord business to Belgium’s NV Bekaert SA. The European Commission approved the transaction at the start of August, and Pirelli reports that it still remains subject to approvals in China and Turkey. The deal is expected to close between the end of 2014 and the first quarter of 2015.