Bag: fever opa flies volumes Pirelli, Treaty 4% of the capital – Il Sole 24 Ore

19/03/2015 21:05

 Members Camfin and Asian partner would refer delisting
  
 (Il Sole 24 Ore Thomson Financial) – Milan, 19th March – The fever opa
 puts the turbo to trade on Pirelli on the Stock Exchange. At the sitting
 today and ‘was treated almost 4% of the ordinary
 (18 million titles) and 1.1% of the savings: volumes
 accompanied by + 3.3% of the share at 14.9 euro which led
 capitalization to almost 7.1 billion. In the last
 seven sessions, excluding that of today, were traded
 on average more than 5 million shares (1.1% stake
 ordinary).
The new tidying as shareholders – that unlike
 previous could include the launch of an offer
 Public on the market by the members of Italian Camfin
 (Tronchetti Provera, Unicredit and Intesa) along with a new
 asitico investor – and ‘the bet of operators and
 investment houses that have welcomed the
 potential transaction waiting to understand the times (that seem
 tight) and details. No comment and ‘came from
 directly involved.
First, the feedback of analysts and experts concern
 output or less of the current shareholders of Russian Rosneft
 (Allies of Tronchetti Provera, Unicredit and Intesa
 Sanpaolo in Camfin), holders of 13% of transparency in
 Pirelli: Rosneft has invested about 553 million euro in
 2014 on the basis of a share price of 12 Pirelli
 euro and therefore could also disinvest (partially or
 totally) realizing already ‘a significant gain in
 If opa current prices.
From the business instead we reason on
 possible reduction in the scope of business with the sale
 the industrial division: this segment represents almost
 a quarter of the turnover of Pirelli (1.4 billion euro
 in 2014) with an EBITDA margin of around 17% and is’ driven
 especially from the markets of South America and the Middle East where
 Pirelli occupies a position of leadership. From time Pirelli
 announced the will ‘to create a joint venture in
 this area through the alliance with a partner Asian
 and more ‘of some recent investment house had
 gone so far as to speculate even a sale of tires
 industrial use in order to keep under the Pirelli brand
 the only segment “car” and in particular the profitable
 production of premium tires.
The surprise of today’s rumors, put pen to paper
 by some analysts, and ‘the hypothesis that Asian ally
 (Sovereign fund or industry group) enters the upper floors
 the chain of control and is not limited to the partnership
 in the industrial business.
Fon-
   
 — Equity Indices Italy provided by www.borsaitaliana.it
 
 (RADIOCOR) 19-03-15 21:05:16 (0827) 3 NNNN