Pirelli shareholders’ pact to end in February 2026

Milan, Italy – Pirelli has announced that a shareholders’ agreement signed in 2023 between leading shareholders Camfin, Marco Tronchetti Provera & C. (MTP) and three companies linked to Nuova FourB will not be renewed.

The 7 Nov notice came after communication from the “B Party” – made up of Nuova FourB Srl, Brembo NV and Next Investment – stating its intention not to renew the agreement.

The shareholders’ agreement covers the ordinary shares held by the parties.

It concerns prior consultation and coordination on voting at Pirelli shareholder meetings, as well as governance and strategy continuity in line with arrangements already in place between Camfin and MTP.

As of 22 May, the shares subject to the pact totalled about 27.4% of Pirelli’s ordinary share capital. 

Under the terms of the shareholders’ agreement, the MTP/Camfin party was designated to exercise the leading role in the management and strategic orientation of the company.

The pact also provided for prior consultation before voting and for rules governing any further share purchases by the parties.

The agreement originally had a three-year term from 28 Feb 2023, with automatic renewal for another three years unless one party gave notice at least three months before expiry.

Following the notification sent on 4 Nov by the 'B Party', the pact will expire on 28 Feb 2026 and will not renew, Pirelli said.