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Nobody’s Attempting to Buy Pirelli, Says Tronchetti Provera

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Marco Tronchetti Provera has already indicated he will divest his family’s share in Pirelli some time in the next few years, however the Italian tiremaker’s chairman and CEO has quashed speculation that he has received a proposal regarding a potential Pirelli sale. In a statement written on Jan. 29 and published by Reuters, Tronchetti Provera described suggestions of a change in Pirelli’s ownership structure as “pure fantasy”.

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“No proposal arrived to the undersigned and I did not make any proposal to the Pirelli board,” read the statement from Tronchetti Provera. The suggestion that a deal was afoot came from FT Alphaville, who wrote on Jan. 29 that informed sources report the Goldman Sachs Group’s private equity business is attempting to bring Pirelli into private ownership. FT Alphaville’s sources shared that Goldman Sachs previously made an offer on Pirelli, backed by Russian oil and petroleum company Rosneft, however nothing came of this attempt. “Sources say talks could resume in the coming weeks as Tronchetti attempts one final deal,” FT Alphaville added.

 

And what does Marco Tronchetti Provera have to say about his alleged dealings and upcoming last attempt? The Pirelli boss’s statement spells out his position very clearly: “It’s pure fantasy. Whoever circulated it is responsible to the market and the authorities.” (Tyres & Accessories)

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