Russia's Rosneft Grabs Stake In Tire Maker Pirelli

Law360, New York (March 17, 2014, 3:14 PM EDT) -- Russian energy giant OAO Rosneft on Monday confirmed that it’s snapping up a 13 percent stake in Italian tire maker Pirelli & C. SpA, with the company investing a reported 500 million euros ($697 million) to get the deal done.

Rosneft is picking up a 50 percent stake in a reorganized holding company that owns a 26 percent slice of Pirelli. Nuove Partecipazioni, an investment vehicle controlled by to Pirelli Chairman and CEO Marco Tronchetti Provera, would control 80 percent of the holding company’s other half,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.