Pirelli, at risk of a brand made in Italy with the arrival of a takeover bid for … – The Republic

MILAN – The market believes it, but the company is silent. For days we talk of a possible entry of new members in the capital of Pirelli, led today by a syndicate which includes in addition to the leader Marco Tronchetti Provera, the Russian Rosneft, banks Unicredit and Intesa, the family Rovati and Diaz Siger. The difficulties of the Russian giant, linked to the decline of the ruble and the tensions with the Kremlin, have prompted speculation about his possible replacement in the structure of control. In its place, in whole or in part, may enter Chinese or Japanese groups, interested in the brand of Bicocca. In the front row are the Chinese of China Chemical, which seem to have beaten the competition of Yokohama and Zhongce Rubber Company.

It seems imminent announcement of a takeover bid (Opa) entire Pirelli. If so, the risk is that the famous brand of tires can end up in foreign hands. Hardly, in fact, in the case of launching a takeover bid, Tronchetti Provera would have the financial strength to maintain control of the company’s stock. Even if it were to retain the leadership of the group for the next three / five years, more than the fourth reorganization in five years, the current operation would be the final sale of the group to a foreign investor.

The Consob did not ask for clarification if not late in the evening, despite the title on the Stock Exchange has been the subject of speculation for the entire day and a previous embarrassing, right on the holding company Camfin, when they were paid the former owners of Tronchetti, family Malacalza ( see article).

“No comment,” said the members gathered in the holding company Camfin (New Investments, Unicredit, Intesa Sanpaolo, Rosneft) which owns approximately 26% of the group of tires. For them, the delisting of the company, worth over 7.2 billion after the recent rise, it would not cost less than 5.4 billion. An investment that is not within the reach of any of the current shareholders. Who put the money, will take home one of the most prestigious brands of the made in Italy and the tire industry.

Arguments:

pirelli

Starring:

Marco Tronchetti Provera