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Is Pirelli Planning IPO For Tire Unit?

(Akron/Tire Review) Multiple news reports say that Pirelli SpA is looking to spin off its tire unit as a separate entity, and launch an initial public offering of stock.

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Forbes.com reported today that Goldman Sachs will likely be appointed to handle the IPO.

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News speculation in Milan says the Italian tire and telecommunications giant planned to separate its global tire operations into a standalone company. Pirelli has not commented on those reports, though.

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