MILAN, Jun 4 (Class Editori) -- While in Pirelli the maneuvers for the renewal of the pacts between the shareholders continue, there are some innovations regarding the negotiating table. The understanding that is being studied hangs towards the current scheme of governance, albeit with some new elements that underlie the new balances of power. To guarantee the maintenance of the Italian promise, Marco Tronchetti Provera will be confirmed as CEO of the Bicocca, according to what MF-Milano Finanza has learned. A new chief operation officer from China will support Camfin's reference shareholder.
In this way ChemChina will confirm full confidence in Tronchetti Provera but at the same time it will guarantee greater direct grip on the tire group guide. In short, the Italian-Chinese axis will continue without major shocks. It will only be necessary to understand for how long will this situation last, even if the latest rumors speak of a possible duration of the agreement for at least two or three years more compared to the initial deadline of June 2020, during the approval of the 2019 financial statements.
In recent weeks, Tronchetti Provera confirmed the rumors about the renewal of the shareholders' agreement at the meeting. Based on the current structure, the Chinese shareholders, through Marco Polo Srl, hold 45.52% of Pirelli's capital. The Italian shareholders in Camfin have 10.05%.
Tronchetti Provera explained that the desire to renew the agreements is the result of what has been done so far with the Chinese partners, since the delisting for the reorganization "which has happened successfully: we have successfully managed to bring the company back to the market with excellent market acceptance and the results confirmed the value of our partnership, obtaining results that continue to improve".
(Source:Class Editori)
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