Part of Pirelli's shares went to ChemChina
25 march 2015
Rumors about the sale of a stake in Pirelli have been confirmed. The new owner of the package is the Chinese corporation ChemChina. On behalf of the latter, the buyer was the subsidiary - Tire & Rubber Co.
It was a representative of this firm who signed the official agreement to purchase 26.2 percent of Pirelli's shares. From ChemChina, an official confirmation of the completed deal was received. The buyer paid fifteen dollars for each share. The total cost of the package of shares is 7.1 billion euros.
Following this deal, as analysts say, a redistribution of the sphere of influence will follow. And although the situation in the market remains stable for now, but soon, according to a ChemChina representative, the business growth strategy will be revised. A slight delay is due to the need for approval of the deal by Chinese regulatory authorities.
It was a representative of this firm who signed the official agreement to purchase 26.2 percent of Pirelli's shares. From ChemChina, an official confirmation of the completed deal was received. The buyer paid fifteen dollars for each share. The total cost of the package of shares is 7.1 billion euros.
Following this deal, as analysts say, a redistribution of the sphere of influence will follow. And although the situation in the market remains stable for now, but soon, according to a ChemChina representative, the business growth strategy will be revised. A slight delay is due to the need for approval of the deal by Chinese regulatory authorities.