Camfin raises Pirelli stake to 29.9%

Milan, Italy – The investment group of Pirelli executive vice chairman Marco Tronchetti Provera has increased its overall holding in the Italian tire maker to 29.9%.

Camfin Alternative Assets (CAA) completed the acquisition of a 3.34% stake in Pirelli from an unnamed “major banking institution,” according to a 23 Sept statement by Marco Tronchetti Provera & C. (MTP), Camfin, CAA and Longmarch Holding.

Following the transaction, the control chain headed by MTP holds an aggregate stake of 29.9% in Pirelli.

The companies said the acquisition strengthened the role of Camfin and MTP as “stable shareholders” and reaffirmed their “confidence and commitment” to supporting Pirelli's industrial projects.

The transaction completes a share-buying programme announced in October 2024, when MTP, Camfin and related investment vehicles authorised purchases that could increase their aggregate holding in Pirelli to a maximum of 29.9% over the following 24 months.

At the time, Camfin acquired a further 2.5% of Pirelli as brake systems manufacturer Brembo disposed of its entire 5.6% interest in the tire maker. (ERJ report)

The transaction took the MTP/Camfin holding to 25.28%, with further purchases subsequently increasing the interest.