皇冠体育app

Silk Road Fund, the recently launched Chinese investment fund, signs today an equity investment ament with to hold a 25% stake in CNRC International Holding (HK) Limited ("CNRC HK").

CNRC HK was established to acquire, through its affiliates, the Pirelli ordinary shares owned by Camfin and thereafter to launch the Mandatory Tender Offer for Pirelli ordinary shares and the Voluntary Tender Offer for Pirelli savings shares, both at 15.00 ros?per share, as announced by Camfin on March 22, 2015.

The acquisition has been approved by the relevant Chinese authority while the global antitrust review is under way. The acquisition of the Camfin shares is expected to be completed during summer 2015.

The signing of the agreements indicates that Chem皇冠体育app, Silk Road Fund, Pirelli management and other partners involved in the transaction will join forces in the long term industrial investment in Pirelli as they are all committed to working together to build a market leader in the global tire industry.

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Silk Road Fund is a $40 billion medium to long term investment fund established in Beijing in December 2014. It makes outbound investment through both equity and debt financing. The fund focuses on infrastructure, energy, industrialization and financial cooperation that are vital to the connectivity of the Chinese economy with the rest of the world.

Chem皇冠体育app is the largest enterprise in 皇冠体育app's chemical industry and ranks 276th among the Global Fortune 500. It is a leading Chinese company in materials science, life science, environmental science plus basic chemicals sectors. It is a domestic industrial leader in the manufacturing of all steel radial tires and off-the-road tires, and the largest producer of auto brake hose and high strength conveyor belt in 皇冠体育app.