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You are here: Home1 / Marco Polo Industrial Holding S.p.A

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Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion

Company News, International News, Premium
Prometeon share ownership pie chart

Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion

Today Yokohama announced that it is consolidating its OTR tyre businesses into Yokohama Off-Highway Tires, which could be read as a prelude to the announcement Yokohama’s bid for the Prometeon tyre business. Roughly a year after the story broke, Yokohama’s bid for Prometeon isn’t the best kept secret in the tyre industry. Tyres & Accessories first heard talk of Yokohama’s bid for the ex-Pirelli industrial and commercial vehicle tyre business back in July 2019. The news was reported world-wide after we broke the story in September 2019, followed days later by third-party confirmation from the Chinese side of the deal. At that time, the deal was set to go public by the end of 2019. A few months later at the start of 2020, the timeframe switched to an end-of-first-quarter 2020 deadline. Then the coronavirus pandemic happened. And in the months that have followed things have gone quiet. So, where is Yokohama’s bid for Prometeon up to? The latest news is that deal is still on-track, but that there have been a few changes along the way. Here, Tyres & Accessories brings an update on the status of the acquisition and offers a different view on the deal by looking at it from a South American perspective.

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Related news:

  1. Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon
  2. Pirelli truck tyres separating and merging with Aeolus/ChemChina
  3. Camfin gains right to buy up to 15% of Pirelli shares
  4. Yokohama consolidates OTR tyre businesses into Yokohama Off-Highway Tires
19th October 2020/by Chris

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

Company News, International News, Premium
Prometeon share ownership pie chart

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

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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Related news:

  1. Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion
  2. Pirelli truck tyres separating and merging with Aeolus/ChemChina
  3. Camfin gains right to buy up to 15% of Pirelli shares
  4. Report: Yokohama has signed ‘no shop contract’ with Prometeon
17th September 2019/by Chris

Prometeon/Aeolus integration stalls

Company News, International News

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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Related news:

  1. ChemChina now holds 30% of Pirelli shares
  2. Pirelli industrial/consumer tyre business split continues
  3. Camfin gains right to buy up to 15% of Pirelli shares
  4. ChemChina entrusts Aeolus with Prometeon Tyre Group shares
18th January 2018/by Chris

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

Company News, Premium, Product News

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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Related news:

  1. Aeolus hosts more than 200 in Italy for launch of Neo commercial tyre series
  2. Pirelli launches commercial tyre all-rounder R:01 Triathlon
  3. Prometeon COO talks with Tyres & Accessories
  4. ChemChina Pirelli buy-out underway
27th April 2017/by Andrew

Pirelli reverse merges with Marco Polo

Company News, International News

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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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
23rd December 2015/by admin

Pirelli shares delisted post ChemChina buyout

Company News

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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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
6th November 2015/by admin

96% of Pirelli shares purchased by Marco Polo

Company News, International News

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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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
28th October 2015/by admin

Pirelli is now Chinese owned

Company News, International News

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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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
13th October 2015/by admin

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

Company News

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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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
30th September 2015/by admin

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