Italian tyre maker Pirelli to be bought by Chinese state-owned ChemChina

ajaypjayaraj · 23rd March 2015, 21:32

Just came across this...

Quote:

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

sgiitk · 24th March 2015, 12:21

Now what happens to their F1 involvement. Sad day, but not totally unexpected.

Nimish anthony · 24th March 2015, 12:55

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

aargee · 24th March 2015, 13:16

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.

Conandrum · 26th April 2015, 17:27

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.

24th March 2015, 12:21	#2
sgiitk BANNED Join Date: Dec 2007 Location: Gurugram Posts: 7,969 Thanked: 4,787 Times	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.
	() Thanks

24th March 2015, 12:55	#3
Nimish anthony BHPian Join Date: May 2007 Location: trivandrum Posts: 368 Thanked: 2,179 Times	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
	() Thanks

24th March 2015, 13:16	#4
aargee Senior - BHPian Join Date: Jan 2010 Location: TSTN Posts: 6,233 Thanked: 9,616 Times	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.
	() Thanks

26th April 2015, 17:27	#5
Conandrum Newbie Join Date: Apr 2015 Location: India Posts: 1 Thanked: 0 Times	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.
	() Thanks