Pirelli brand and technology core to ChemChina takeover

China National Chemical Corp's (ChemChina) proposed €7.1 billion (HK$59.7 billion) takeover offer for Italy's Pirelli, the world's fifth-largest tyre maker, marks another huge acquisition by a state-backed mainland firm that will give it instant control over a famous international brand and the technology to upgrade its products.

via South China Morning Post - Business feed http://ift.tt/1xUHqrU