Pirelli, ChemChina Agree to Closing Date

Time: Aug 6th  2015   Copy editor: Tyrefull

All the necessary antitrust and regulatory approvals for China National Chemical Corp.’s (ChemChina) majority share purchase of Pirelli & C. SpA have been obtained and the deal will be complete on Aug. 11.

First announced in March, ChemChina has agreed to purchase Pirelli’s majority shares from holding company Camfin for roughly $7.6 billion.

Under a previously made agreement, ChemChina will launch a mandatory tender offer for the remaining shares at 15 euros each.

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