Pirelli’s Italian Investors Increase Grip on Formula 1 Supplier

The Italian investors of Pirelli & C. SpA are increasing their influence over the iconic tiremaker after the government stepped in to limit the influence of China’s investor in the company Sinochem.

Marco Tronchetti Provera’s financial holdings MTP SpA and Camfin SpA approved a two-steps transaction which allow them to increase their holding, according to a statement on late Monday. Under that plan, MTP reached an agreement to raise its stake to 20.6% from 14%, the company said. …

Source: Bloomberg