Rosneft concludes deal on purchase of 13% of Pirelli
Edited by Rhod Mackenzie / 2014-07-14 05:41:02
Rosneft has concluded a deal on the acquisition of 50% stake in the company Camfin SpA, which owns 26.19% of the Italian tyre manufacturer Pirelli, from a consortium of banks Unicredit, Intesa and the fund Clessidra, the oil company reported. Under the deal’s terms, the Pirelli’s shares were estimated at 12 euro per share, i.e. 13% could cost Rosneft 760 million euro. This roughly corresponds to market price of the tyre company’s shares on Friday. On Friday, the Pirelli’s capitalization at the Milan Stock Exchange was 5.7 billion euro – it increased with the market by 0.95%.
The funds "were attracted on the principles of project financing on account of pension funds and financial institutions", Rosneft reports.
