Italian Bankers, Goldman May Head Pirelli IPO - Tire Review Magazine

Italian Bankers, Goldman May Head Pirelli IPO

(Akron/Tire Review) AFX News reports that Italian banks Mediobanca and Banca Intesa will probably be tapped to lead the IPO of Pirelli SpA’s tire group.

Goldman Sachs may also be an advisor on the potential deal.

No decision on bankers has been made. Pirelli’s board of directors said it would consider an IPO for it tire unit, but would retain controlling interest.

AFX reported that sources close to the situation said that the unit, which accounted for some 80% of Pirelli’s total revenue in the first nine months of 2005, could be listed by the summer if market conditions are favorable.

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