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ChemChina entrusts Aeolus with Prometeon Tyre Group shares

Author: Chris Anthony Comments: 0
Prometeon share ownership pie chart Prometeon's current share ownership arrangement means a third party acquisition is possible.

Aeolus Tyre Co Ltd and its controlling shareholder, China National Tire & Rubber Co. Ltd (CNRC, which is itself owned by Chinese petrochemical giant ChemChina) executed a “share entrustment agreement” on 30 November 2020. According to the agreement, CNRC will “entrust” its 52 per cent shareholding in Prometeon Tyre Group Srl to Aeolus for three years. But the three-year term will be automatically renewed upon expiry.

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