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Tires and Rubber

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  • *Bid seen coinciding with Pininfarina shareholder meeting-sources. MILAN, April 20- Indian vehicle maker Mahindra& Mahindra aims to present a formal offer for Pininfarina in time for the Italian car designer's shareholder meeting on April 29, two sources with knowledge of the matter said. Debt-laden Pininfarina, which has a market value of 162 million euros,...

  • *Prime Minister Renzi sees Expo 2015 as "litmus test" for Italy. Italy has had four different governments in the seven years since Milan was chosen to follow the 2010 Shanghai Expo and has undergone its most severe economic crisis since World War Two. "Expo will be the litmus test for the great ambitions which Italy has," Renzi said in a speech in Milan last month to...

  • *Chinese companies snap up $391 bln of foreign assets in decade. HONG KONG, March 27- ChemChina, which could soon face the task of integrating Italian tyre-maker Pirelli after its $7.7 billion bid, can take heart in the knowledge that Chinese buyers have made a decent fist of growing global brands in recent years. Success stories include the landmark 2004 purchase...

  • After dry spell, Italy hails M&A boom Wednesday, 1 Apr 2015 | 11:54 AM ET

    LONDON, April 1- Megers and acquisitions in Italy in the first three months of 2015 are already double the value of such transactions for all of the previous year, with hungry investors encouraged by Prime Minister Matteo Renzi's reforms. Italy was the third most-targeted country in Europe in the first quarter of the year, accounting for 11.6 percent of European...

  • BEIJING, March 29- The chairman of China National Chemical Corp said on Sunday he hopes to re-list Italy's Pirelli on the Italian stock exchange after his firm agreed earlier this month to acquire the world's fifth-largest tyre maker. Ren Jianxin also warned that a counterbid for Pirelli would hurt the Italian firm's investors and long-term strategy.

  • MILAN, March 28- Switzerland's Dufry has agreed to buy a majority stake in World Duty Free in deal which values the Italian firm at 3.6 billion euros and will makes it by far the world's biggest travel retailer. Edizione, the holding company owned by the Benetton family and controlling World Duty Free, said on Saturday it was selling its 50.1 percent stake in the...

  • MILAN, March 26- Italian tyre maker Pirelli has a strong future with owner-to-be China National Chemical Corp and is not talking to others about a possible counterbid, CEO Marco Tronchetti Provera told Reuters in an interview on Thursday. The deal allows the 67- year-old Tronchetti Provera, one of Italy's best-known businessmen who married into the Pirelli...

  • Outbound Chinese buyers confounding the doubters Thursday, 26 Mar 2015 | 5:00 PM ET

    *Chinese companies snap up $391 bln of foreign assets in decade. HONG KONG, March 27- ChemChina, which could soon face the task of integrating Italian tyre-maker Pirelli after its $7.7 billion bid, can take heart in the knowledge that Chinese buyers have made a decent fist of growing global brands in recent years. Success stories include the landmark 2004 purchase...

  • MILAN, March 25- Italian tyre maker Pirelli, which is being bought by China National Chemical Corp, does not plan to pay a special dividend to its shareholders as part of the buyout plan, two sources with direct knowledge of the matter said. ChemChina is to buy into the world's fifth-largest tyre maker in a 7.3 billion-euro deal, agreed with Pirelli's biggest...

  • *China has the capital, Italy the brands- says banker. MILAN, March 23- After years of economic decline, Italy has become a hunting ground for Chinese companies keen to take control of prized but cash-strapped corporate names such as Pirelli, and they are no longer investing from the back seat. "The Chinese have the capital, Italy has the brands, the products and the...

  • *Pirelli rises after takeover bid from ChemChina. LONDON, March 23- European shares slipped from multi-year highs on Monday, with car stocks hurt by a rise in the euro and lingering worries over Greece leading investors to book profits. Traders said that lingering uncertainty over Greece was also pegging back European stock markets.

  • *Agreement is latest Chinese acquisition in Italy. MILAN, March 22 (Reuters)- China National Chemical Corp (ChemChina) is to buy into Pirelli, the world's fifth-largest tire maker, in a 7.1 billion-euro ( $7.7 billion) deal that will put the 143- year-old Italian company in Chinese hands. The deal agreed with Pirelli's top shareholders on Sunday is the latest in a...

  • *Agreement is latest Chinese acquisition in Italy. MILAN, March 22- China National Chemical Corp is to buy Pirelli, the world's fifth-largest tyre maker, in a 7.1 billion-euro deal that will put the 143- year-old Italian company in Chinese hands. The deal agreed with Pirelli's top shareholders on Sunday is the latest in a series of takeovers made in Italy by...

  • Pirelli rises after takeover bid from ChemChina. Shares in Pirelli outperformed, rising 2.5 percent after China National Chemical Corp agreed to buy the Italian tire maker in a 7.1 billion euro deal. The acquisition, agreed with Pirelli shareholders on Sunday, will see state-owned ChemChina take over the world's fifth-largest tire maker and one of the...

  • European shares slip from 7-1/2 year high Monday, 23 Mar 2015 | 5:06 AM ET

    *Pirelli rises after takeover bid from ChemChina. PARIS, March 23- European shares slipped on Monday, taking a breather following recent sharp gains, while shares in Pirelli rose 3.5 percent after China National Chemical Corp agreed to buy the tyre maker in a 7.1 billion euro deal. The acquisition, agreed with Pirelli shareholders on Sunday, will see state-owned...

  • European shares pause; Pirelli rises after deal Monday, 23 Mar 2015 | 4:08 AM ET

    PARIS, March 23- European shares slipped on Monday, taking a breather following recent sharp gains, while shares in Pirelli rose 2.1 percent after China National Chemical Corp agreed to buy the tyre maker in a 7.1 billion euro deal. The acquisition, agreed with Pirelli shareholders on Sunday, will see state-owned ChemChina take over the world's fifth-largest...

  • *Pirelli shareholder Camfin says in talks with industrial partner. MILAN, March 20- China National Chemical Corp is close to becoming the biggest single shareholder in Pirelli in a deal that would trigger a 7 billion euro buyout of the Italian tyre company. Three sources familiar with the deal, which would be the latest in a string of Chinese investments in large...

  • *Pirelli shareholder says in talks with industrial partner. MILAN, March 20- China National Chemical Corporation is close to striking a deal with the top shareholder in Pirelli that could see it take control of the Italian tire company, two sources familiar with the matter said on Friday. Earlier on Friday Camfin said it was in talks with "an international...

  • *Pirelli shareholder says in talks with industrial partner. MILAN, March 20- Camfin, a key shareholder in Pirelli, said on Friday it was in talks with an international industrial partner to sell its 26.2 percent stake in the Italian tyre company. The investment firm said the deal under discussion envisaged the transfer of the whole of its stake in Pirelli to a new...

  • Italian boost sends European shares to 15-year high Thursday, 19 Mar 2015 | 2:01 PM ET

    *Pirelli, Enel boosts Italian index. LONDON/ PARIS, March 19- A broad index of European shares hit its highest level in 15 years on Thursday, led by Italian stocks thanks to sharp gains in tyre maker Pirelli and utility Enel. Shares in Enel rose 1.9 percent after it said it aims to raise profits and dividends over the next five years by focusing on emerging markets and...