Reuters reported on May 17 that unnamed outside "industrial and financial investors are in talks to buy a stake in Camfin," which holds controlling interest in Pirelli SpA.
Pirelli chairman and CEO Marco Tronchetti Provera controls Pirelli "through a complex chain led by his MTP SpA holding vehicle and comprising two other companies, GPI and Milan-listed Camfin," Reuters reported.
Camfin holds a 26% interest in Pirelli, and is itself 42.6% owned by Tronchetti Provera and 12% by the Malacalzas family, which is also the second largest investor in GPI.
Tronchetti Provera and the Malacalzas have reportedly “been locked in a dispute over how best to repay” Camfin’s debt, which sat at 385 million euros at the close of March.
It was said that the new investors "would help Camfin repay debt and give the investor a foothold in Pirelli." An MTP spokesman said "contacts and talks” between the various parties were ongoing, but that "there were not, and are not at present, any agreements, even preliminary, in this regard."