You are here: / Chemchina

Posts

ChemChina to acquire Swiss agribusiness firm for US$43 billion

Pirelli’s parent company, state-owned group China National Chemical Corporation (ChemChina), has deep pockets. After acquiring the tyre maker last year it announced its purchase of KraussMaffei Group and shares in Mercuria Energy Trading in January. And yesterday ChemChina gave word of a deal that will be China’s largest overseas takeover ever – the company intends to acquire Swiss agrochemical and seeds company Syngenta AG for US$43 billion by way of a public tender offer.

Read more

Related news:

  1. Pirelli in talks with a number of bidders before ChemChina deal
  2. ChemChina to acquire KraussMaffei Group for €925million
  3. ChemChina chairman against Pirelli job cuts, pro Italian re-listing
  4. Pirelli reverse merges with Marco Polo
/by

ChemChina acquires share in Mercuria

It recently acquired Pirelli and KrausMaffei, and China National Chemical Corporation has now purchased a stake in Mercuria Energy Trading, an integrated energy and commodities company with a (2014) turnover of US$106 billion. The Chinese chemical company has taken a 12 per cent share in the shareholding structure of Mercuria.

Read more

Related news:

  1. Pirelli in talks with a number of bidders before ChemChina deal
  2. ChemChina to acquire KraussMaffei Group for €925million
  3. ChemChina to acquire Swiss agribusiness firm for US$43 billion
  4. ChemChina chairman against Pirelli job cuts, pro Italian re-listing
/by

ChemChina to acquire KraussMaffei Group for €925million

Leading chemical group China National Chemical Corporation, or ChemChina, has agreed to acquire machinery manufacturer KraussMaffei Group from Onex Corporation for a cash enterprise value of 925 million euros. ChemChina’s acquisition of the KraussMaffei Group covers the German company’s three brands of products, including the KraussMaffei Berstorff range of extruders, roller head systems and cap strip systems for the tyre industry. The transaction is subject to closing conditions including customary regulatory approvals.

Read more

Related news:

  1. Pirelli/ChemChina deal, the story so far
  2. Pirelli in talks with a number of bidders before ChemChina deal
  3. Marco Polo/ChemChina buy almost 10 per cent of Pirelli shares
  4. ChemChina to acquire Swiss agribusiness firm for US$43 billion
/by

Pirelli reverse merges with Marco Polo

,

Pirelli & C. S.p.A. is to officially reverse merge with Marco Polo Industrial Holding S.p.A. This transaction will be submitted to the extraordinary shareholders’ meetings on 15 February 2016, with a view to completing during the first half of 2016.

Read more

Related news:

  1. Pirelli is now Chinese owned
  2. ChemChina (UK) Ltd founded
  3. EU gives ChemChina green light for Pirelli purchase
  4. Pirelli: Nokian merger rumours false
/by

ChemChina proudly showing Pirelli connection

, ,

Now ChemChina has completed the purchase of Pirelli and the de-listing of the well-known Italian tyre firm’s shares, the first signs of how Pirelli will be integrated into the ChemChina tyre group are emerging. Walking onto the ChemChina stand, the first thing you notice is that the Pirelli logo now features at the head of a list of group-owned tyre business in at least two prominent positions on the large stand. While for many in Europe the sight of Pirelli alongside Aeolus, Double Happiness, Yellow Sea and Torch may feel a little strange, the obvious implication of ChemChina’s decision to present it this way is that we all need to start getting used to the new reality. Secondly, you can’t ignore that this move communicates the underlying intention to integrate Pirelli into the ChemChina group rather

The rest of this article is for subscribers only:
Log inSubscribe

Related news:

  1. Aeolus continues to rise in Chinese tyre market
  2. Pirelli shareholding to be controlled by ChemChina
  3. 2015 tyre manufacturer rankings: Stability at the top?
  4. ChemChina Pirelli buy-out underway
/2 Comments/by

Pirelli shares delisted post ChemChina buyout

Marco Polo Industrial Holding S.p.A., Pirelli’s owner and a company indirectly controlled by China National Chemical Corporation through China National Tire & Rubber Co., Ltd., has moved to the next stage of its takeover, de-listing Pirelli shares from the Italian stock exchange.

Read more

Related news:

  1. Marco Polo/ChemChina buy almost 10 per cent of Pirelli shares
  2. Pirelli is now Chinese owned
  3. 96% of Pirelli shares purchased by Marco Polo
  4. Pirelli reverse merges with Marco Polo
/by

96% of Pirelli shares purchased by Marco Polo

,

Following the re-opening of its well-reported takeover offer, Marco Polo Industrial Holding S.p.A. now owns 95.969 per cent of the ordinary share capital of Pirelli. The news suggests the takeover of Pirelli is now virtually complete and Marco Polo (which itself is owned by China National Chemical Corporation, China National Tire & Rubber Co., Ltd., Camfin S.p.A., Coinv S.p.A. and Long-Term Investments Luxembourg S.A. (which is controlled by Rosneft) is now the shareholder of basically all of Pirelli’s stock. The latest developments have taken place in the two weeks since Marco Polo became Pirelli’s majority shareholder on 8 October.

Read more

Related news:

  1. Pirelli is now Chinese owned
  2. ChemChina’s latest Pirelli shares held indirectly
  3. Pirelli reverse merges with Marco Polo
  4. Pirelli shares delisted post ChemChina buyout
/by

Ren Jianxin comments on Pirelli acquisition

,

Newly inaugurated Pirelli president, ChemChina’s Ren Jianxin, recently told Corierre della Sera of his pride in his company for completing the recent acquisition of Pirelli and his personal satisfaction to be working with Marco Tronchetti Provera. According to the interview, which was published in the Italy daily newspaper on 22 August, the acquisition and subsequent appointment is a great moment for ChemChina and for Ren himself it is a great honour to be Pirelli president and to work with Marco Tronchetti Provera, who he sees as an older brother and a teacher. He also revealed details of the wider strategy behind the investment.

Read more

Related news:

  1. Pirelli shareholding to be controlled by ChemChina
  2. Pirelli industrial/consumer tyre business split continues
  3. Pirelli in talks with a number of bidders before ChemChina deal
  4. Pirelli reverse merges with Marco Polo
/by

Pirelli, Rosneft and Synthos move to next phase of synthetic rubber cooperation

On 22 October, Pirelli, Rosneft and Synthos signed a further Memorandum of Understanding (MoU) regarding the next phase of their synthetic rubber cooperation. The MoU refers to the approval of the results of an initial feasibility study begun in April regarding the development of a synthetic rubber plant construction project in Nakhodka. The document was signed during the Fourth Eurasian Forum in Verona by Rosneft chairman of the management board Igor Sechin, Pirelli executive vice chairman and CEO Marco Tronchetti Provera, and Synthos majority stakeholder Michal Solowow.

Read more

Related news:

  1. Pirelli and ChemChina agree closing date, triggering mandatory tender offer
  2. Rosneft and ChemChina sign cooperation agreement
  3. Pirelli signs Armenia synthetic rubber MoU
  4. ChemChina’s latest Pirelli shares held indirectly
/by

ChemChina/Aeolus interesting facts

,

With the news that Aeolus’ parent company, ChemChina, is now the majority shareholder in Pirelli via a complex ownership structure, we thought it would be fitting to mark the occasion with a few particularly interesting facts about ChemChina’s various tyre operations, which together put the firm’s tyre assets amongst the top three Chinese tyre makers in terms of output:

Read more

Related news:

  1. Who is ChemChina?
  2. Aeolus continues to rise in Chinese tyre market
  3. ChemChina proudly showing Pirelli connection
  4. ChemChina to create world’s fourth-largest industrial tyre company
/by

Pirelli is now Chinese owned

,

As of yesterday (12 October 2015) Marco Polo Industrial Holding’s offer for Pirelli ordinary share capital achieved an acceptance rate of 53.6 per cent. However, because today (13 October) is the last day of the offer period, it is very likely that this percentage will be significantly more at the end of the day. This means the pre-announced plans for ChemChina to buy around two-thirds of Pirelli is well underway and therefore the company is now effectively Chinese-owned.

Read more

Related news:

  1. ChemChina’s latest Pirelli shares held indirectly
  2. ChemChina front-runner to buy Pirelli
  3. 96% of Pirelli shares purchased by Marco Polo
  4. Pirelli reverse merges with Marco Polo
/by

Marco Polo/ChemChina buy almost 10 per cent of Pirelli shares

On 29 September Marco Polo Industrial Holding S.p.A purchased 45,143,033 ordinary Pirelli & C. S.p.A. shares representing approximately 9.5 per cent of the company and 190,307 savings shares from certain investment funds managed by Paulson at a price of Euro 15.00 per share.

Read more

Related news:

  1. ChemChina’s latest Pirelli shares held indirectly
  2. Pirelli is now Chinese owned
  3. ChemChina front-runner to buy Pirelli
  4. Regulator approves ChemChina/Pirelli offers
/by

Rosneft and ChemChina sign cooperation agreement

,

Rosneft and China National Chemical Corporation (ChemChina) signed a Heads of Agreement on cooperation in equity investment in ChemChina Petrochemical Corporation (CCPC) and a Memorandum of Understanding for cooperation on the project of the Far-East Petrochemical Company (FEPCO).

Read more

Related news:

  1. Pirelli, Rosneft and Synthos move to next phase of synthetic rubber cooperation
  2. Pirelli and ChemChina agree closing date, triggering mandatory tender offer
  3. ChemChina front-runner to buy Pirelli
  4. Pirelli is now Chinese owned
/by

Regulator approves ChemChina/Pirelli offers

,

Marco Polo Industrial Holding S.p.A. , which is indirectly by China National Chemical Corporation (ChemChina), through China National Tire & Rubber Co., Ltd., has confirmed that the regulator (Consob) has approved the firm’s offer document related to the mandatory tender offer of the ordinary shares of Pirelli & C. S.p.A. listed on the Electronic Stock Market and the voluntary tender offer launched by the same firms.

Read more

Related news:

  1. ChemChina now holds 30% of Pirelli shares
  2. ChemChina’s latest Pirelli shares held indirectly
  3. Pirelli is now Chinese owned
  4. Pirelli major shareholder Chemchina restructuring
/by

ChemChina Pirelli buy-out underway

, ,

The complete buy-out of Pirelli led by ChemChina is now fully underway, following the passing of the 11 August deal closing date. While the exact process is labyrinthine in its detail, the concise version of events is that ChemChina is buying out Pirelli with the firm’s shares being held by a number of holding companies which are themselves owned by a number of different companies. In short ChemChina, businesses owned by Marco Tronchetti Provera and the Rosneft-owned Luxembourg-based Long Term Investmentss will be the major shareholders.

The rest of this article is for subscribers only:
Log inSubscribe

Related news:

  1. Pirelli industrial/consumer tyre business split continues
  2. Pirelli launches commercial tyre all-rounder R:01 Triathlon
  3. Aeolus continues to rise in Chinese tyre market
  4. Pirelli shareholding to be controlled by ChemChina
/by