Rosneft Plans to Buy Stake in Pirelli

CHEMMONITOR.COM – Rosneft (Russia) is expected to buy a stake in tire producer Pirelli (Italy). Rosneft will obtain 50 % stake in a firm, which will buy 26.2 % of shares owned by Camfin (Italy) in Pirelli. The remaining stake of 50 % will be taken over by the company in which Nuove Partecipazione (Italy) owns 80 %, while Italy-based Unicredit and Intesa Sanpaolo each own 10 %. The transaction is forecasted to improve Pirelli’s business in Russia and reorganize its structure of shareholders.