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You are here: Home1 / Rosneft

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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 Tyrepress Editors

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

International News

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.

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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
23rd October 2015/by Tyrepress Editors

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.

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
13th October 2015/by Tyrepress Editors

Rosneft and ChemChina sign cooperation agreement

Company News, International News

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).

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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
8th September 2015/by Tyrepress Editors

ChemChina Pirelli buy-out underway

Company News, International News, Premium

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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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
12th August 2015/by Tyrepress Editors

Pirelli and ChemChina agree closing date, triggering mandatory tender offer

Company News, International News

CNRC (ChemChina), Camfin and its shareholders have announced that all the necessary antitrust and regulatory approvals for ChemChina’s purchase of the majority of Pirelli (as announced on 22 March 2015) have been obtained. Therefore the aforementioned parties have agreed to complete the transaction on 11 August 2015. As a result, the pre-announced mandatory tender offer for the remaining shares (at 15 euros each) will be triggered.

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. Regulator approves ChemChina/Pirelli offers
5th August 2015/by Tyrepress Editors

Pirelli and Rosneft expand partnership

Company News, International News

During the course of the International Economic Forum in St. Petersburg, Marco Pirelli CEO Tronchetti Provera and Igor Sechin (chairman of the majority of Russian state-controlled oil company Rosneft) announced that their companies had deepened the partnership entered into in late 2012.

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Related news:

  1. Rosneft buys 13 per cent of Pirelli
  2. Pirelli, Rosneft and Synthos move to next phase of synthetic rubber cooperation
  3. First Pirelli-Rosneft tyre centre opens in Moscow
  4. ChemChina’s latest Pirelli shares held indirectly
22nd June 2015/by Tyrepress Editors

Rosneft buys 30% of ChemChina subsidiary

Company News, International News

Ren Jianxin, chairman of China National Chemical Corporation (ChemChina) and Igor Sechin, President of Rosneft, signed an equity investment and crude oil supply deal on 20 June 2015 during the St. Petersburg International Economic Forum.

Read more

Related news:

  1. Pirelli shareholding to be controlled by ChemChina
  2. Pirelli and ChemChina agree closing date, triggering mandatory tender offer
  3. Pirelli is now Chinese owned
  4. 96% of Pirelli shares purchased by Marco Polo
22nd June 2015/by Tyrepress Editors

Three-way MoU to examine feasibility of Russian synthetic rubber for Pirelli plants

Company News, International News

Pirelli intends to supply its tyre factories in the Asia Pacific region with synthetic rubber produced in Russia. The tyre maker has signed a three-party Memorandum of Understanding related to this project. This new MoU facilitates the continuation of plans set out by MoUs signed between Pirelli and Russian petroleum company Rosneft in May and October 2014.

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Related news:

  1. Pirelli and Rosneft in synthetic rubber cooperation talks
  2. Pirelli, Rosneft and Synthos move to next phase of synthetic rubber cooperation
  3. First Pirelli-Rosneft tyre centre opens in Moscow
  4. Pirelli and ChemChina agree closing date, triggering mandatory tender offer
20th April 2015/by Tyrepress Editors

ChemChina’s latest Pirelli shares held indirectly

Company News, International News

Following the news that China National Tire & Rubber Co. (CNRC), a subsidiary of China National Chemical Corporation (ChemChina), entered into a binding agreement with Edizione with respect to the purchase of 1.574 per cent of the share capital of Pirelli on 13 April, company representatives have issued a clarification that these shares are held indirectly.

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Related news:

  1. Pirelli is now Chinese owned
  2. ChemChina front-runner to buy Pirelli
  3. ChemChina now holds 30% of Pirelli shares
  4. Pirelli and ChemChina agree closing date, triggering mandatory tender offer
17th April 2015/by Tyrepress Editors

Pirelli shareholding to be controlled by ChemChina

Company News, International News, Premium

In the early hours of 23 March 2015 Beijing Time, ChemChina’s China National Tire & Rubber Co. (CNRC) subsidiary signed an agreement with Camfin S.p.A. to purchase Camfin’s 26.2 per cent Pirelli shareholding at 15 euros a share. This values Pirelli at around 7.1 billion euros (£5.15 billion pounds). A joint tender offer by ChemChina, Camfin and other investors on the rest of Pirelli’s shareholding is now expected to follow.

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Related news:

  1. Pirelli industrial/consumer tyre business split continues
  2. Rosneft reaches for Pirelli – but the power stays with Marco Tronchetti Provera
  3. ChemChina Pirelli buy-out underway
  4. Pirelli IPO marks landmark in new ownership structure
23rd March 2015/1 Comment/by Tyrepress Editors

ChemChina front-runner to buy Pirelli

Company News, International News

News agencies are reporting China National Chemical Corporation, which names brands such as Aeolus amongst its number, is close to purchasing shares in Camfin, which own 26 per cent of Pirelli and would give ChemChina a controlling shareholding in Pirelli. For the last year or so Camfin has been owned by Russian oil firm Rosneft and a holding company of Pirelli’s chairman and chief executive, Marco Tronchetti Provera. Other significant shareholders include Italian banks Intesa Sanpaolo and UniCredit.

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Related news:

  1. ChemChina’s latest Pirelli shares held indirectly
  2. Pirelli is now Chinese owned
  3. Pirelli shareholding to be controlled by ChemChina
  4. ChemChina now holds 30% of Pirelli shares
20th March 2015/by Tyrepress Editors

First Pirelli-Rosneft tyre centre opens in Moscow

Company News, International News

Rosneft, Pirelli and the Koleso retail chain have opened the first of many Pirelli tyre centres that are planned for Rosneft service stations in Russia’s capital, Moscow. The Pirelli centre at Mira Avenue 94 has been established under the terms of the Memorandum of Understanding signed between Rosneft head Igor Sechin and Pirelli & C. S.p.A. chairman and CEO Marco Tronchetti Provera on 24 May 2014 at the St. Petersburg International Economic Forum.

Read more

Related news:

  1. Russia a growing part of Pirelli’s business?
  2. Pirelli/Rosneft deal unchanged – Tronchetti Provera
  3. Pirelli signs Russian retail MoU
  4. Rosneft responds to its inclusion on sanctions list
24th November 2014/by Tyrepress Editors

Rosneft completes 13% purchase of Pirelli

International News

Rosneft has completed its purchase of a 13 per cent stake Pirelli to Rosneft, following Italian anti-monopolies approval multiple news sources are reporting.

Read more

Related news:

  1. Rosneft buys 13 per cent of Pirelli
  2. Pirelli and ChemChina agree closing date, triggering mandatory tender offer
  3. Amtel-Vredestein debt dispute to be heard on 26 October
  4. First Pirelli-Rosneft tyre centre opens in Moscow
20th August 2014/by Tyrepress Editors

Rosneft responds to its inclusion on sanctions list

Company News, International News

Russia’s Rosneft, indirect 13 per cent shareholder in Italian tyre maker Pirelli, has commented on the decision by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) to include it on the new sectoral sanctions list. The oil company was one of four energy sector companies added to the list on 16 July 2014; the sanctions were announced in response to unrest in Ukraine but were put in place before the crash of Malaysian Airlines MH17. Under the terms of the sanctions, US citizens can not undertake certain dealings with Rosneft and the other firms, and they will not be able to obtain medium or long-term lending from the US.

Read more

Related news:

  1. Rosneft buys 13 per cent of Pirelli
  2. Russia a growing part of Pirelli’s business?
  3. Pirelli and Rosneft in synthetic rubber cooperation talks
  4. Pirelli and ChemChina agree closing date, triggering mandatory tender offer
21st July 2014/by Tyrepress Editors
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