Earlier this yr, Brembo acquired what was described as a “small long-term” stake in Pirelli by way of its Nuova FourB dad or mum firm. The small 2.43 p.c stake was bought with out the data of Pirelli or its shareholders.
Brembo’s government deputy chairman Matteo Tiraboschi instructed Reuters that his firm isn’t planning to additional improve its holding in the meanwhile and doesn’t wish to play any function in Pirelli’s governance.
Learn Additionally: Pirelli Currently Has No Intention Of Merging With Brembo
“We’ve made an funding, which we had selected earlier than the COVID-19 outbreak, in an organization that we all know and drastically respect, with a market positioning which is similar to our personal,” Tiraboschi acknowledged.
Whereas Pirelli have beforehand acknowledged that they’ve no intention of merging with anyone, this shock transfer will certainly elevate hypothesis relating to the longer term integration of the 2 teams. Collectively, they may create an enormous when it comes to automobile components provide.
Brembo makes brakes for automobile producers corresponding to Ferrari, Tesla and a number of other Formula One teams, whereas Pirelli tires are utilized in Formulation One, in addition to by manufacturers corresponding to BMW, Audi and others.
It will likely be attention-grabbing to see what occurs within the years to return, particularly since Pirelli stakeholders ChemChina and the Silk Street Fund, which collectively maintain a 46 p.c stake, will see their shareholder settlement expire in 2023 to Camfin, an funding car of Pirelli CEO Marco Tronchetti Provera, who owns a stake of simply over 10 p.c.