MILAN (Thomson Financial) - Pirelli & C SpA said it has bought out the minorities of the two tyre companies it controls in Turkey to strengthen the group's position in what it regards as a strategic country.
Pirelli Tyre bought 25.75 percent of Pirelli Turk Lastikleri and 48.0 percent of Celikord from Isbank.
The company also bought a further 1 percent stake in Celikord from other shareholders.
Pirelli said it now owns 95.35 percent of Pirelli Turk Lastikleri and 100 percent of Celikord. stephen.jewkes@thomsonreuters.com sj/slm COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
