Pirelli Talking to Banks About Tyre Unit Deal

(Akron/Tire Review) AFX is reporting that Pirelli SpA is in discussions with several banks to consider options “to enhance the value” of its tyre operations.

Pirelli told AFX that no decisions have been made, despite reports that a group of banks is looking to buy a 35 per cent share of Pirelli’s tyre unit. Pirelli was going to spin the group off in an IPO last month, but the company pulled the plug on the stock offering.