Brembo sells Pirelli stake, Camfin buys half

Well-known brake manufacturer Brembo N.V. has sold its entire stake in Pirelli & C. S.p.A. through an “accelerated bookbuilding offering” (the “Placement”). The proceeds amount to approximately 282.9 million euros, deriving from the sale of Brembo N.V.’s entire stake of no. 55,800,000 ordinary shares of Pirelli & C. S.p.A., at a price of 5.07 euros per share. Brembo’s stake in Pirelli had equated to roughly 5.58 per cent of Pirelli’s issued share capital.