ChemChina plans to entrust the 38 per cent equity of Prometeon Tyre Group to Aeolus after obtaining the necessary internal authorisations.
Aeolus Acquires 30 Per Cent Stake in Prometeon Tyre Group
On June 29, 2022, Aeolus Tyre Co., Ltd. received the Official Communication “About the Completing Acquisition of 38 Per Cent Equity of Prometeon Tyre Group S.r.l. (PTG)” from its Controlling Shareholder, China National Tire & Rubber Co., Ltd.
According to this Official Communication, on 30th December, 2021, ChemChina signed an agreement to acquire the 38 per cent stake in PTG held by High Grade (HK) Investment Management Limited. The transaction and the filing procedure with the relevant state ministries and commissions have been officially completed on 28th June, 2022.
Continuing in the Official Communication, it is highlighted that ChemChina plans to entrust the 38 per cent equity of Prometeon Tyre Group to Aeolus after obtaining the necessary internal authorisations.
Aeolus reminds investors that the custody matters described in the “Official Communication” still need to go through the necessary internal authorisation process, and therefore they need to properly consider the investment potential risks.
