Deal ‘Can Only Benefit’ Pirelli, Provera Says
Pirelli CEO Marco Tronchetti Provera told employees today that the partnership agreement with ChemChina “can only benefit” Pirelli’s factories and employment. On Sunday, Tire Review reported that ChemChina entered into an agreement with Pirelli SpA, agreeing to purchase Camfin’s 26.2% stake of Pirelli. Camfin is Pirelli’s largest shareholder. The deal, which is expected to close
ChemChina, Pirelli Shareholder Reach Agreement
A subsidiary of chemical, rubber and tire giant China National Chemical Corp. will make a takeover bid for Italian tiremaker Pirelli SpA, agreeing on Sunday to purchase the stake of Pirelli’s largest shareholder, according to reports from the New York Times and Reuters. The deal, which is expected to close during the summer, will give the
