Pirelli to re­turn to Mi­lan bourse

India Business Journal - - GLOBAL WRAP-UP -

Ital­ian tyre-maker Pirelli will re­turn to the Mi­lan stock mar­ket on Oc­to­ber 4, two years after the com­pany was taken over by Chi­nese in­vestors. The date was an­nounced last month in press conference in Mi­lan by Marco Graf­figna of Banca Imi, the fi­nan­cial in­sti­tu­tion that is pre­par­ing Pirelli's IPO. State-owned China Na­tional Chem­i­cal Corp had ac­quired a 65 per cent stake in Pirelli in 2015, in a deal that saw one of the former bas­tions of Ital­ian in­dus­try fall into for­eign hands. Pirelli, founded 145 years ago, is mo­nop­oly sup­plier to For­mula One rac­ing teams.

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