Pirelli than the tender offer price: Chinese partners are added to the Russians, but … – The Press

Pirelli than the tender offer price: Chinese partners are added to the Russians, but Tronchetti remains driving

          

Even money on Pirelli mid-morning: the title marks a rise of 2.69% bringing the courses to share 15,64 EUR, over the possible takeover bid by 15 euro that the new Bidco will launch on securities of the company’s Bicocca. As official in the newco weekend pointing to totalitarian control of Pirelli after launching a takeover bid will be at least 50.1% of the Chinese China National Tire & amp; Rubber , giant tires checked by ChemChina , the largest public company controlled by the People’s Republic Shashak (State-owned Assets Supervision and Administration Commission of the State Council), then by the Beijing government and major chemical group of the whole country.

The opa could therefore lead to delisting Pirelli, although courses this morning over the 15 € provided for the offer the hypothesis that at least some investors’ hopes for a rise of the proposal.

The management will be led in each case by Marco Tronchetti Provera , which currently is a former partner in Camfin , the reference shareholder of the 26, 19% of Pirelli , the Russians of Long Term Investments Luxembourg , Intesa Sanpaolo and Unicredit . Already today the Long Term Investments Luxembourg that refers to Rosneft and is the first single shareholder Camfin (has 50% while the other half is controlled by the New Investments Tronchetti Provera with minority shares of Unicredit and Intesa).

The goal of the operation seems to still predominantly Industrial and resides in the intention of promoting a doubling of production of tires for the industrial sector 6000000-12000000 thanks to a partnership with the Chinese of China Nationa Tire.

It is not ruled out a separation and a subsequent listing, also on the stock, the business unit of the passenger car, while some of the output from the Milan Stock Pirelli and its consolidation by China National Tire will bring in the Chinese financial market even where the company is present with Aeolus , controlled tire with a market capitalization of 7.3 billion yen (about 1.09 billion euro) .

Aeolus is an international giant tire (both for passengers and for trucks and industrial machinery), which earlier this month according to Reuters was fined 600 thousand yuan regulatory authority of Henan Province (Henan Regulatory Bureau of China Securities Regulatory Commission) on the publication of information of the group and false financial reporting.

The group China National Tire & amp; Rubber Co., the one who is dealing directly with Pirelli for a maneuver that could be completed by the end of this summer, check out assets for 15 billion yuan (2.22 billion euro) and therefore also for the acquisition of it control of a society like that of Bicocca in these hours worth of EUR 7.43 billion in the stock market and the end of September had assets of 7.7 billion euro is relevant transaction.

(GD)