Pirelli to Be Acquired for €7.1 Billion by ChemChina.
Founded in 1872 by Giovanni Battista Pirelli, the Milan-based tire manufacturer is one of the most highly-acclaimed companies in the world. The outfit will be bought for €7.1 billion, translating to $7.7 billion according to current rates.
The transaction is expected to be carried out by ChemChina’s subsidiary China National Tire & Rubber Co., with the deal slated to close in the summer of 2015. Pirelli to Be Acquired for