China buys Pirelli

Pirelli will be bought by a Chinese corporation. Fortunately, it will just be owned by China and not made in China.

China National Chemical Corp wants to takeover Pirelli for 7,1 bilion dollars. The transaction will took place soon. Chem China is a company fully controlled by the Chinese Government and this takeover means a lot of knowledge and R&D made by Pirelli through the last years.

The deal was signed on Sunday, and if it will took place, the group will become a global leader with 10% market share, according to Reuters. Moreover, Pirelli will have an advantage over Michelin and Continental in Asian markets due to Chem China distribution.

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