Silk Road Funds Join China's Chemical Investment in Pirelli

On June 5, 2015, Silk Road Fund and China Chemical signed a cooperative investment agreement, becoming a shareholder of China Rubber International Holdings (Hong Kong) Co., Ltd. (hereinafter referred to as “Hydro Rubber Holdings”) and holding 25% of the shares.

Pirelli Truck Tires

Pursuant to the announcement on March 22, 2015, Rubber Holdings acquired through its subsidiaries the ordinary shares of Pirelli held by Italy's Camfin Corporation, which in turn initiated a mandatory tender offer for Pirelli common stock and a voluntary tender offer for Pirelli's retained shares (acquisition price Both are 15 euros per share).

It is understood that as of now, the acquisition has been approved by China's relevant agencies, the global anti-monopoly review is ongoing, the initial delivery is expected to be completed this summer.

The signing of this investment agreement marks the long-term investment of Pirelli in China Chemical Industry, Silk Road Fund, Pirelli Management and other partners of the Transaction, and continues to work together to build a market leader in the global tire industry.

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