News Details
Pirelli to be sold to Chinese company
F1 tyre supplier Pirelli is set to come under new Chinese ownership after shareholders agreed to a 7.1 billion euro deal with the ChemChina group. Under the new deal, ChemChina – which is Chinese state-owned – will initially take a 26 per cent stake in the company before launching a full takeover bid. According to Reuters, the bid will be launched by a vehicle controlled by the Chinese state-owned group and part-owned by current owners Camfin investors, who include Pirelli boss Marco Tronchetti Provera, Italian banks UniCredit and Intesa Sanpaolo, and Russia's Rosneft. In doing so, it will bring Pirelli under his tyre-making division and take the company private, in turn bolstering one...
Full Story »
Full Story »
You May Also Be Interested In...
China's ChemChina to buy Pirelli for £5.1bn
Formula 1's official tyre supplier, Pirelli, is set to change hands next...
11y ago from GrandPrixTimes.com
Pirelli wants future rules decision ahead of tender
Pirelli has called on the sport to confirm its plans for the 2017 season...
11y ago from GrandPrixTimes.com
ChemChina to buy Pirelli for $7.7 billion
China National Chemical Corp (ChemChina) is to buy the world's...
11y ago from ThisIsF1.com
Pirelli predicts at least two stops in Malaysia
Pirelli motorsport director Paul Hembery is predicting this weekend's...
11y ago from Motorsport.com
Elsewhere On The Network
Popular On MGPToday.com
Pirelli doesn't intend to make a "Marquez"...
No description available...
1d ago from Motorsport.com
Inside Marc Marquez’s new approach to racing after...
No description available...
3d ago from Motorsport.com
‘A World Champion cannot do a mistake like that'...
Aprilia CEO Massimo Rivola admits he “would not disagree” if Jorge...
4d ago from MotorsportWeek.c...
Jorge Martin escapes injury but hit with penalty for...
No description available...
1w ago from Motorsport.com
Popular On IndyCarToday.com
IndyCar Officiating details infraction severity levels
IndyCar Officiating has released more specific information regarding the...
2d ago from MotorsportWeek.c...
Myles Rowe: Historic Indy NXT Win at WWTR proves ‘I...
No description available...
4d ago from Motorsport.com
Winners and losers from the IndyCar race at World Wide...
No description available...
5d ago from Motorsport.com
Josef Newgarden did not know Christian Rasmussen...
Josef Newgarden won Sunday night’s thriller at World Wide Technology...
5d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Sebastien Loeb to make traditional stage rallying...
No description available...
3d ago from Motorsport.com
Hayden Paddon eyes WRC gravel opportunity with...
No description available...
1w ago from Motorsport.com
Hyundai drivers relieved asphalt WRC season is over...
No description available...
1w ago from Motorsport.com
Oliver Solberg highlights area he must “work on”...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
‘Why wouldn’t I?’: Eze would take England...
t;li>Eze dismisses idea of changing spot-kick technique‘If there is a...
1h ago from TheGuardian.com
Arsenal begin talks with ‘amazing' teenage...
Arsenal have begun talks with Morocco sensation Ayyoub Bouaddi following...
7m ago from CaughtOffside.com
“I’m really happy to know” - Arsenal target...
Arsenal target Ayyoub Bouaddi has opened up on his future following his...
5h ago from SportsKeeda.com
Arsenal ready to spend 100m on Arteta's dream summer...
Mikel Arteta's Arsenal want to sign Juventus attacking mainstay Kenan...
7h ago from CaughtOffside.com
Comments
Hottest News
Lewis Hamilton and Sky F1 pundit in tense exchange live on...
Seven-time F1 world champion Lewis Hamilton hit... Read More »
3h ago from GPFans.com
Norris issues chilling Ferrari prediction: ‘They’ll...
Lando Norris grabbed a lonely third-place finish... Read More »
1h ago from F1i.com
George Russell says "Ferrari pace was insane" and...
George Russell admitted Ferrari's pace caught... Read More »
1h ago from GrandPrix247.com
