Tag: shareholding

JK Tyre now 26% shareholder in Treel Mobility Solutions

JK Tyre now 26% shareholder in Treel Mobility Solutions

13th August 2019 | 0 Comments

In June and July, J.K. Organisation company JK Credit & Finance acquired 50.003 per cent equity shares in Indian start-up Treel Mobility Solutions Pvt. Ltd. JK Tyre & Industries has now obtained 26 per cent equity in the smart tyre system specialist from its group sibling and rebranded Treel as a ‘JK Tyre Product’. JK Tyre paid Rs 59.8 million for its 26 per cent share in Treel; JK Credit & Finance continues to hold 24.003 per cent in the company.

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Mitsubishi becomes Toyo Tire’s largest shareholder – collaboration to intensify

Mitsubishi becomes Toyo Tire’s largest shareholder – collaboration to intensify

1st November 2018 | 0 Comments

Through a new arrangement with Mitsubishi Corporation (Mitsubishi), Toyo Tire & Rubber (Toyo) aims to “survive and remain viable” during the “unprecedented transformation” currently occurring in the automotive industry. The two parties have entered into a business alliance agreement that involves Mitsubishi increasing its shareholding in Toyo from 3.05 per cent to 20 per cent. Toyo will issue Mitsubishi 26,931,956 new shares via a third-party allotment that will be paid in between 15 January and 28 June 2019. With this share acquisition, Mitsubishi becomes Toyo’s largest shareholder.

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Kumho Tire deadline approaching

26th March 2018 | 0 Comments

It won’t be a Good Friday for Kumho Tire if an agreement between its creditors and the labour union representing its workforce isn’t reached by the end of this week. Friday 30 March is the deadline set for a formal consensus regarding the sale of a 45 per cent share in the tyre maker to China’s Qingdao Doublestar Tire for KRW 646.3 billion (£421.7 million).

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Michelin takes 20% share in A.T.U. auto service chain

Michelin takes 20% share in A.T.U. auto service chain

13th February 2018 | 0 Comments

The Michelin Group has purchased a 20 per cent share in German automotive services provider A.T.U. (Auto-Teile-Unger). The minority stake was acquired from French automotive maintenance and repair services group Mobivia Groupe for 60 million euros; following the acquisition, Mobivia and Michelin intend to combine their expertise in order to further develop A.T.U. in Germany, Austria and Switzerland.

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Kumho Tire creditors renew hunt for new owner

22nd January 2018 | 0 Comments

Creditors holding a 42.01 per cent share in Kumho Tire are going to look for a new owner – again. Some four months after Qingdao Doublestar Tire's planned acquisition of the South Korean tyre maker collapsed, the Korea Development Bank (KDB) and the other creditors are said to be once more looking for an external investor.

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Public offer: Michelin, SIFCA looking to wholly acquire rubber producer SIPH

22nd June 2017 | 0 Comments

Acting in concert with Ivory Coast-based company SIFCA, Michelin has opened a simplified cash public tender offer through its 99.99 per cent-owned subsidiary Compagnie Financière Michelin SCmA (CFM) to acquire the 841,285 shares in natural rubber company Société Internationale de Plantations d'Hévéas (SIPH) not currently held by the two parties. Michelin states that it and SIFCA will pay 85 euros for each share in the West Africa-based rubber producer and marketer.

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Tyres on the Drive deal gives Halfords an opportunity to grow mobile delivery

Tyres on the Drive deal gives Halfords an opportunity to grow mobile delivery

19th January 2017 | 0 Comments

Halfords has acquired a minority stake in TyresOnTheDrive.com valued at up to £8 million and simultaneously entered into an operating agreement with the mobile tyre fitting business. The shareholding was purchased during a round of investment in Tyres on the Drive in which existing shareholders MMC Ventures and True Capital also participated.

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Hankook Tire not bidding for Kumho Tire share

20th October 2016 | 0 Comments

Speculation is rife in South Korea regarding who’ll acquire the 42.1 per cent shareholding in Kumho Tire that is currently up for sale. Pirelli parent company ChemChina has already been named as a prospective buyer, as have Continental and Michelin. One tyre company can, however, be ruled out as a new Kumho Tire shareholder.

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Pirelli/Rosneft deal unchanged – Tronchetti Provera

5th May 2014 | 0 Comments

Marco Tronchetti Provera does not expect Western Sanctions against Russia to have any impact on Rosneft’s acquisition of a 13 per cent shareholding in Pirelli. Reuters reports that the Pirelli chairman and CEO told journalists on the sideline of an event that “the timetable of the deal is confirmed, nothing has changed.”

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Pirelli confirms tyre business focus as stake in real estate firm rises

10th April 2014 | 0 Comments

Pirelli’s share in Italian real estate company Prelios has risen from 13 per cent to approximately 29 per cent following the conversion of bonds worth €148.4 million plus accrued interest. While this 29 per cent shareholding includes a portion (around 22 per cent) that is constrained by lock-up obligations until 2016, Pirelli has released a statement confirming its strategic focus upon its core tyre business. The company is “therefore not a long-term investor in the ‘real estate’ industry” and will “seize any possible opportunity” to divest its Prelios shares.

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Rosneft reaches for Pirelli – but the power stays with Marco Tronchetti Provera

Rosneft reaches for Pirelli – but the power stays with Marco Tronchetti Provera

21st March 2014 | 0 Comments

Working on a share price of €12, which translates into a market capitalisation of €5.8 billion, Pirelli boss Marco Tronchetti Provera has arranged the sale of 13 per cent of all Pirelli shares to a majority state-owned Russian energy giant. With this transaction, Rosneft is set to become the largest single Pirelli shareholder. But even though his own shareholding will reduce to less than five per cent when the ink dries on the deal, Tronchetti will retain more or less free rein at Pirelli. While some market observers currently fear that the political situation in Crimea and the Ukraine may harm the deal, and others set their hopes upon the introduction of sanctions against Russia getting in the way, this article focuses on other questions – who Pirelli actually belongs to, who has the say at Pirelli, and how it is possible to control the Pirelli Group despite only having a minority shareholding?

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From now on, Pirelli is “for sale”

10th January 2014 | 0 Comments

As reported yesterday, Pirelli CEO Marco Tronchetti Provera, whose family holds the largest single stake in the company, plans a full departure from the company, first as CEO and then as shareholder. The only point we can now speculate on is the timeframe this will occur within; Tronchetti says he plans to take this step in 2017.

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Gori takes on advisory role at major Pirelli shareholder

6th December 2013 | 0 Comments

Francesco Gori, who for many years until the start of 2012 held the office of chief executive officer at Pirelli Tyre – has been appointed to an advisory position at Pirelli’s second largest shareholder, Genoa-based Malacalza Invesitmenti. In this role, Gori will take care of the company’s investment in Pirelli and provide analyses of the tyre industry.

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Yokohama and Kumho sign technology exchange, capital alliance MOU

2nd December 2013 | 0 Comments

The Yokohama Rubber Co., Ltd. And Kumho Tire Co., Inc. signed a Memorandum of Understanding (MOU) on 29 November. The companies report that they have agreed to open discussions relating to technology exchanges and a capital alliance based on “cross-shareholdings”.

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