Camfin eyeing bigger share in Pirelli

Milan, Italy – Pirelli shareholder Camfin and Marco Tronchetti Provera (Camfin/MTP) has acquired additional financial instruments that give it the right to buy 8.9 million Pirelli shares, equal to 0.89% of the tire maker’s share capital, the company announced 26 Sept.

The financial instruments, maturing in September 2022, are in addition to two other ones announced to the market on 18 and 20 Sept, each having 20 million Pirelli shares underlying.

In its statement, Camfin said the acquisition of the financial instruments will give the company the right to buy Pirelli shares at "a predetermined price" and increase its stake in the Italian tire company's share capital from around 10.1% at present up to approximately 15%.

The market, Camfin concluded, has been informed of the acquisition of the financial instruments “in the manner and terms foreseen by the current regulations regarding matters of internal dealing.”