News Details

Pirelli to be bought by Chinese firm

– China National Chemical Corporation (ChemChina) has agreed to buy Italian tyre manufacturer Pirelli.Pirelli has acted as Formula 1's sole tyre supplier since the 2011 season, and holds a contract through 2016, when the next formal tender process will be conducted.The deal will see ChemChina's tyre arm, China National Tire & Rubber, purchase the 26.2 per cent stake in Pirelli owned by Camfin, and controlled by the family of Chairman Marco Tronchetti Provera.ChemChina will then attempt to acquire the remaining shares in the company. Camfin said the bid would be launched by a consortium controlled by ChemChina, but also part-owned by Camfin investors.The offer will be launched at 15...
Full Story »
10y ago from GPUpdate.net 0
Share

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...
10y ago from GrandPrixTimes.com

Pirelli expects lap records to be challenged

irelli Motorsport Director Paul Hembery reckons lap records could be...
10y ago from GPUpdate.net

ChemChina to buy Pirelli for $7.7 billion

China National Chemical Corp (ChemChina) is to buy the world's...
10y ago from ThisIsF1.com

Pirelli to be sold to Chinese company

F1 tyre supplier Pirelli is set to come under new Chinese ownership after...
10y ago from Crash.net

Elsewhere On The Network

Popular On MGPToday.com

Popular On IndyCarToday.com

Team Penske places David Malukas in the iconic #12...

Team Penske has announced that David Malukas will be joining the team and...

Zak Brown addresses three areas IndyCar can improve

McLaren CEO Zak Brown penned an open letter on Monday outlining his...

Popular On TotalWRC.com

Popular On GunnersToday.com

'I don't want to' – Arsenal star fires warning...

Arsenal forward Gabriel Martinelli was on the scoresheet once again, but...
6h ago from CaughtOffside.com

Arsenal 1-1 Manchester City: Premier League – as it...

riel Martinelli’s injury-time goal cancelled out a beauty from Erling...
6h ago from TheGuardian.com

Nev and Carra: Arteta had handbrake on, they wasted 45...

Gary Neville and Jamie Carragher accused Mikel Arteta of "having the...
5h ago from SkySports.com

Arsecast Extra Episode 659 – 21.09.2025

Welcome to another Arsecast Extra, the Arsenal podcast, with myself and...
4h ago from Arseblog.com

Comments

Hottest News

Recent News


2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.