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In 2015, China National Chemical Corp. Ltd. took controlling interest of Pirelli; with the Chinese state-owned company agreeing to maintain the tyre company's ownership structure until 2023. Pirelli has been sponsoring sport competitions since 1907 and is the exclusive tyre partner and supplier for the Grand-Am Rolex Sports Car Series for 2008 ...
After restructuring the organisation of the group's internal activities, the company decided to sell down its investment in the cable market. The figure negotiated was EUR 1.3 billion: Goldman Sachs gave Pirelli 225 million and the rest (more than one billion) was a debt that would be paid off the back of the new business. [10]
He was the chief executive officer of Pirelli & Co. S.p.A. from 1992 [1] to 2022 [2] and its executive vice chairman since October 20, 2015. He is the chairman of Marco Tronchetti and Provera & C. S.p.A., a holding that he controls and which indirectly holds 50% of Camlin S.p.A. (where he was chairman until December 2013).
On 2 November 2009, Bridgestone announced that they would not be renewing their contract to supply tires to Formula One teams after 2010. The company said it was "addressing the impact of the continuing evolution of the business environment". [30] Pirelli announced in June 2010 that it would serve as sole supplier for tires in the 2011 season. [31]
After regulations liberalized the import of crude and fuel products in China, the company opened a trading office in Singapore in October 2013. [8] In March 2015, it was announced that Pirelli shareholders had accepted a €7.1 billion bid from ChemChina for the world's fifth-largest tyre maker. [9] [10]
Consolidation of the automobile industry is an ongoing occurrence. Behind each automobile brand lies larger parent corporations.Auto mobile corporations, external corporations and private shareholders commonly own varying amounts of multiple auto mobile corporations, thus resulting analysis of relationships between auto mobile corporations becomes increasingly complicated.
The two main capital structure theories as taught in corporate finance textbooks are the Pecking order theory and the Trade-off theory.The two theories make some contradicting predictions and for example Fama and French conclude: [3] "In sum, we identify one scar on the tradeoff model (the negative relation between leverage and profitability), one deep wound on the pecking order (the large ...
Continental AG, commonly known as Continental and colloquially as Conti, [3] is a German multinational automotive parts manufacturing company. Headquartered in Hanover, Lower Saxony, it is the world's third-largest automotive supplier and the fourth-largest tire manufacturer.