Aeolus Tyre to Acquire Prometeon Tyre and Guilin Beili Tyre for RMB 5.78 Bln


  • Aeolus Tyre Co. (600469.SS) recently announced plans to acquire a 90% stake in Prometeon Tyre Group S.r.l., an industrial tyre manufacturer headquartered in Italy, and 100% of domestic tyre manufacturer Guilin Beili Tyre Co., as reported by
  • The company also plans to acquire the two target company’s land and real estate properties related to their industrial tyre businesses.
  • The total transaction amount will be RMB 5.783 billion which Aeolus Tyre will pay through issuing shares.

Why It Matters:

  • Aeolus Tyre also plans to raise another RMB 2.021 billion. The money will be used for expansion in the international markets, building a tyre research center, improving product quality, and developing a digital system for the two acquired companies’ industrial tyre businesses.
  • Prometeon Tyre Group S.r.l., a unit under¬†Pirelli & C. SpA,¬†manufactures truck, bus, agro, and OTR tyres under the Pirelli brand. Before the transaction, Aeolus already owned a 10% stake in Prometeon Tyre Group; therefore, after the transaction, Aeolus Tyre will own 100% of the company.
  • After the transactions are finalized, Aeolus will become the largest industrial tyre manufacturer in China and the fourth largest on the globe.