Tag: Marco Polo Industrial Holding S.p.A

Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon

Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon

17th September 2019 | 0 Comments

Japanese tyre and rubber manufacturer Yokohama is planning to invest into and even buy Prometeon, the new name for the former Pirelli commercial and industrial tyre manufacturing operation, according to a range of sources. Tyres & Accessories first heard this news in July and then the Italian financial press subsequently suggested that Prometeon’s shareholders were considering restructuring Prometeon’s ownership. Yokohama is understood to be leading the suitors. The official Yokohama/Prometeon investment announcement is expected during the course of the next week or so.

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Prometeon/Aeolus integration stalls

Prometeon/Aeolus integration stalls

18th January 2018 | 0 Comments

The integration of Prometeon Tyre Group (the former Pirelli Industrial business) and Aeolus Tyre Co. Ltd has stalled after Aeolus’ pending acquisition of a 90 per cent stake in Prometeon failed to gain overseas acquisition approval from Chinese authorities before the 31 December 2017 deadline.

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Aeolus to launch third generation truck and bus radial tyres at Autopromotec

Aeolus to launch third generation truck and bus radial tyres at Autopromotec

27th April 2017 | 0 Comments

Aeolus will take the opportunity of Autopromotec 2017 in Bologna (24-28 May) to stage the official launch of its third generation truck and bus tyre range.

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 Pirelli reverse merges with Marco Polo

23rd December 2015 | 0 Comments

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.

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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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Pirelli is now Chinese owned

13th October 2015 | 0 Comments

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.

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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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