CN
PC
CNRC acquires 38% share in Prometeon Tyre Group
CNRC
2022-07-08
China National Tyre & Rubber Co., Ltd (CNRC), a subsidiary of Sinochem Holdings, completed the acquisition of the 38% share owned by High Grade (HK) Investment Management Ltd. on June 28. Upon conclusion of internal decision-making procedures, CNRC will entrust its stake in PTG to Aeolus Tyre.
With this deal, CNRC has become the direct stakeholder of 38% of Prometeon’s shares, while Aeolus holds a 10% stake. The remaining 52% is owned by TP Industrial Holding S.p.A. - a company controlled by CNRC.
