Tag: shares

Pirelli: Nokian merger rumours false

20th January 2020 | 0 Comments

Market rumours that Pirelli is considering a €9 billion (£7.7 billion) merger with Finland's Nokian Tyres have been quashed by company spokespeople. Reports that such a deal was on the horizon emerged in mid-January and were then fuelled by re-reporting in the British and Italian press. However, these stories are “without foundation”, according to two Milan-based Pirelli spokespeople that Tyres & Accessories interacted with. Nokian has yet to comment.

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Goodyear declares dividend on common stock

16th January 2020 | 0 Comments

Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.16 per share of common stock. The dividend is payable 2 March 2020 to shareholders of record on 3 February 2020. The payout represents an annual rate of 64 cents per share.

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Michelin implements partial share buyback management agreement

8th January 2020 | 0 Comments

An investment services provider has been called upon to implement the share buyback programme authorised by Michelin at its Annual Shareholders Meeting on 17 May 2019. An agreement to this effect was signed on 7 January 2020.

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Bridgestone decreases stake in Nokian Tyres

6th January 2020 | 0 Comments

Bridgestone Corporation has significantly reduced its shareholding in Nokian Tyres. In a stock exchange release, the Finnish tyre maker reports that, as of 12 December 2019, Bridgestone’s shareholding has decreased from 9.96 per cent to 3.0 per cent. Bridgestone now holds 4,167,653 shares in Nokian Tyres.

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Michelin cancels treasury shares

10th December 2019 | 0 Comments

Michelin – Compagnie Générale des Etablissements Michelin, to use the company’s full name – has decided to cancel 1,345,821 treasury shares, representing 0.75 per cent of the total shares outstanding. As indicated in a Euronext notice last week, the effective date of the resulting capital reduction is 9 December 2019.

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Toyo sells half its Bridgestone shares

9th December 2019 | 0 Comments

The board of directors of Toyo Tire has decided to sell a portion of its stock holdings in Bridgestone.

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Conti boosts Pyrolyx share price

12th November 2019 | 0 Comments

Pyrolyx AG shares gained 6 per cent in Australian trading after the company announced it has entered a rCB supply deal with Continental AG, according to Nasdaq.

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Michelin to purchase additional SIPH shareholding

16th October 2019 | 0 Comments

Michelin intends to acquire all shares in Société Internationale de Plantations d’Hévéas (SIPH) not already owned by itself or Ivory Coast-based company SIFCA. It is launching a public buyout offer on 7 November, offering 85 euros per share. This buyout offer is being made exclusively in France and will be followed by a squeeze out.

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Titan International sells Wheels India share

8th October 2019 | 0 Comments

Titan International, Inc. has reduced its shareholding in steel wheel manufacturer Wheels India Limited. It sold, via a wholly-owned subsidiary, a 10.4 per cent stake in Wheels India on 3 October, thereby dropping its share in the company from 34.2 to 23.8 per cent. Titan International intends to use the net proceeds of approximately US$19 million received from the transaction to pay down outstanding indebtedness.

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Camfin gains right to buy up to 15% of Pirelli shares

Camfin gains right to buy up to 15% of Pirelli shares

27th September 2019 | 0 Comments

Pirelli shareholder Camfin now has the right to buy up to 15 per cent of Pirelli shares. The news came when Camfin announced on 26 September that it had underwritten “an additional financial instrument, maturing in September 2022, denominated ‘Call Spread’ with 8.9 million Pirelli shares underlying”. Call Spread’s shareholding equates to 0.89% of Pirelli’s share capital.

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Report: Yokohama has signed ‘no shop contract’ with Prometeon

19th September 2019 | 0 Comments

Rubber industry news sources have confirmed earlier reports that Yokohama Rubber is in acquisition talks with Prometeon.

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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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Transense confirms Bridgestone cooperation

19th August 2019 | 0 Comments

In February, TPMS and sensor-maker Transense announced it had received an order for 50 of its iTrack II tyre monitoring systems for installation in mines in North America. On Tuesday 13 August the company confirmed that Bridgestone is the cooperation partner.

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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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Arconic repurchasing $200M in common stock

6th August 2019 | 0 Comments

Arconic Inc., parent company of Alcoa Wheels, today announced it has entered into an accelerated share repurchase (ASR) agreement with Goldman Sachs & Co. LLC to repurchase US$200 million of Arconic’s common stock, pursuant to the share repurchase programme previously authorised by the company’s Board of Directors.

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