Pirelli: Tronchetti Provera holds a 29.9 per cent stake, “will not make any further purchases”

Statement of intent to Consob

(Il Sole 24 Ore Radiocor) - Marco Tronchetti Provera has no intention of increasing his stake in Pirelli any further. Having reached a 29.9 per cent stake – just below the threshold that triggers the obligation to launch a takeover bid – through Camfin Alternative Assets – a company indirectly controlled via Marco Tronchetti Provera Spa and Camfin – Tronchetti “does not intend to make any further purchases”. This is stated in the declarations of intent submitted to Consob, which has published an update on significant shareholdings. On 23 September, Camfin Alternative Assets acquired 36,274,000 Pirelli shares, representing 3.34 per cent of the company’s share capital. Following these purchases, Marco Tronchetti Provera, through Longmarch Holding (3.39 per cent), Camfin (15.53 per cent) and CAA (10.97 per cent), indirectly holds 29.89 per cent of Pirelli’s share capital. The funds were raised using Camfin Alternative Asset’s own resources and, in part, through bank financing.

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