Eastern China-based independent refiner Hongrun Petrochemical has agreed to acquire a bankrupt oil refinery operated by state-run Sinochem Group in Shandong province, according to four sources ...

Donald Trump’s geopolitical threats are proving to be handy ammo in corporate spats. Italian tyremaker Pirelli’s board last ...

Pirelli & C. SpA may push main investor Sinochem to cut its stake in the Italian tiremaker as its board of directors looks to ...

September 20, 2024 Chinese court declares another Sinochem refinery bankrupt A Chinese court on Friday declared bankrupt a third refinery owned by state oil and chemical group Sinochem ...

Pirelli CEO Andrea Casaluci stated that “Pirelli’s management will continue to work on finding a solution that will allow the ...

The board of Pirelli is calling on Sinochem, its largest shareholder, to reduce its stake in light of recent tariff announcements from President Trump. In short, the board is concerned that Trump’s ...

State-owned ChemChina, which later merged with Sinochem, first bought a majority stake in Pirelli in a $7.7bn deal in 2015. Under the initial deal, the Chinese investor agreed it would not interfere ...

after the Italian government intervened in 2023 to curb the Chinese group's powers and shield the autonomy of Pirelli management. This could include convincing Sinochem to progressively divest ...

China's state-owned Sinochem is the largest investor with a 37% stake in Pirelli, a factor which could hurt the group's activities in the U.S. as Washington cracks down on Chinese technology in the ...