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Old 23rd March 2015, 21:32   #1
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Default Italian tyre maker Pirelli to be bought by Chinese state-owned ChemChina

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Just came across this...

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Chinese state-owned China National Chemical (ChemChina) is to buy Italian tyre maker Pirelli in a deal which values the firm at €7.1bn (£5.1bn).

The move is the latest in a string of takeovers in Italy by cash-rich Chinese buyers.

The takeover gives ChemChina access to technology to make premium tyres and gives Pirelli greater access to the Chinese market.

Pirelli shares were 2.56% higher at €15.62 on Monday on the news.

ChemChina's tyre making unit, China National Tire & Rubber, is to buy the 26.2% stake in Pirelli owned by Italian investment firm Camfin. It will then launch an offer for the remaining shares.
News Source: BBC
Image Source: Google Images
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Old 24th March 2015, 12:21   #2
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Default Re: Italian tyre maker Pirelli to be bought by Chinese state-owned ChemChina

Now what happens to their F1 involvement. Sad day, but not totally unexpected.
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Old 24th March 2015, 12:55   #3
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Default Re: Italian tyre maker Pirelli to be bought by Chinese state-owned ChemChina

sad news to see the best tyre makers moving to the Chinese way. Pirelli is the synonym of quality and performance. Now we will have to live with it
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Old 24th March 2015, 13:16   #4
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Default Re: Italian tyre maker Pirelli to be bought by Chinese state-owned ChemChina

Is there an attraction for Italian "ELLI" by Chinese?

The BenELLI, formerly Italian, Motorcycles is a Chinese company, now the PirELLI

Or did the Chinese misinterpret "ELLIE" to "ELLI", which has meaning "AGreek Helen, meaning shining light, or most beautiful woman"

To me, China is taking a smart path; they're not reinventing the wheel like Koreans or Japanese, they're simply buying out established players in the market to establish themselves.
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Old 26th April 2015, 17:27   #5
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Default Re: Italian tyre maker Pirelli to be bought by Chinese state-owned ChemChina

Just thought I'd throw it out there, Google Images is not a source. It's a image search engine. Citing Google Images for anything you find on it is like citing Google Search for the contents of an article you found using it.
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