Tronchetti Boosts Stake in Tiremaker Pirelli as Brembo Exits
Pirelli is one of Italy’s most iconic manufacturers, producing tires for high-end brands.
Photographer: Erica Canepa/BloombergThis article is for subscribers only.
Pirelli & C. SpA Executive Vice Chairman Marco Tronchetti Provera for a third time this year raised his stake in the Italian tiremaker, after brake specialist Brembo NV sold its entire holding in the company.
The move, which sees Tronchetti nearly doubling his holding from its level at the start of the year, solidifies his position as Pirelli’s core shareholder and ends speculation that the two firms could eventually merge.