Not only ChemChina. The agreement reached by Pirelli with the Chinese state-owned chemical giant led by Ren Jiaxlin in fact, it is not an isolated case, but is placed within a general framework in which Dragon investments in Italy are becoming increasingly widespread and important. A painting in which six key figures stand out.
The first of these figures is the last in order of time to enter the scene of our country. It is precisely Ren, who in recent days has reached out to Pirelli with an offer of 7,4 billion euros. A purchase which, like the many others operated by ChemChina, is part of the project of an expansion campaign which benefits not only companies, but also technology, managerial skills and new access to the markets.
We continue with Zhou Xiaochuan, governor of People’s Bank of China (in other words, the central bank of the Asian giant), which has given rise to a massive investment campaign in Italy, bringing Beijing's stakes in some of the largest Italian companies (Eni, Enel, Generali, FCA, Saipem, Telecom , Mediobanca) beyond the fateful threshold of 2%, which makes disclosure to Consob mandatory.
Another key figure is that of Liu Zhenya, also at the top of one of the Chinese state giants: Grid of China, the company that distributes electricity in the country. Liu, strongly opposed to privatization, could only invest heavily in the energy sector. For this Grid of China currently holds 35% of Cdp Networks, the box in which the controlling shares of Terna and Snam are held.
From energy we move on to fashion, where the strong name, if we talk about Chinese investments in Italy, can only be that of Zhu Chong Yun, founder of Marisfrolg, a brand that can count on over 400 boutiques in China, Singapore, Macao and South Korea. Zhu, whose assets are estimated at over 500 million dollars, bought Krizia in February 2014, reassuring, however, that the fashion house founded by Mariuccia Mandelli will remain substantially Italian.
And it is precisely this respect for the traditions and corporate structures of Italian companies that seems to characterize the whole history of the latest Chinese investments in our country, with the oriental giants guaranteeing the capital, but leaving the governance unchanged, as also happened in the case of Pirelli.
A partial exception is represented by the purchase conducted by Wei Chai, a state-owned company led by Tan Xuguang, which bought 75% of the Ferretti Group, active in the production of luxury yachts. In this case Tan assumed the presidency of the Italian company, leaving the role of managing director to the Italian Alberto Galassi.
The last name of this journey is to Wang Jianlin, chairman of Dalian Wanda Group, whose personal wealth is estimated at $28 billion. His name has been associated above all with the world of football, Italian and, more generally, European. Wang, in fact, has bought 20% of Atletico Madrid, as well as Infront, the company that manages the TV rights of the Italian soccer championship. Wang, after taking over the stake in the Colchoneros, declared that he wanted a club of his own and almost all roads seem to lead to Milan.
