Tag: China National Tire & Rubber Co.

Pirelli shares delisted post ChemChina buyout

6th November 2015 | 0 Comments

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.

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96% of Pirelli shares purchased by Marco Polo

28th October 2015 | 0 Comments

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.

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

30th September 2015 | 0 Comments

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.

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ChemChina Pirelli buy-out underway

ChemChina Pirelli buy-out underway

12th August 2015 | 0 Comments

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.

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