Bekaert in Pirelli Steelcord Acquisition
March 4, 2014
Cleary Gottlieb is representing long-standing client Bekaert in its acquisition of Pirelli Tyres SpA’s captive steelcord production capacity and its entry into a long term supply agreement pursuant to which Bekaert will supply tire cord to Pirelli. The transaction values the Pirelli Steelcord business, which includes steelcord plants in Italy, Romania, Turkey and China, at €255 million. Closing is subject, among other things, to regulatory approvals in several jurisdictions.