After making an agreement earlier this month, Aeolus Tyre Co. plans to purchase China National Chemical Corp.’s (ChemChina) two truck and bus tire subsidiaries and a 10% stake in Pirelli Industrial, Pirelli’s commercial tire unit, according to Reuters.
Aeolus will acquire the ChemChina tire businesses for an estimated $125.50 million and the Pirelli purchase will cost the company around $77.64 million.The tiremaker also announced it will sell 80% stake of its passenger car tire unit to Pirelli for roughly $75 million.
Both Aeolus and Pirelli are majority owned by ChemChina.
