MILAN : Pirelli investor Brembo is worried about strains between the tyremaker's Italian and Chinese shareholders and is likely to steer clear of any plan to build an Italian majority in the company, two sources told Reuters.Last week, the Italian government intervened in a shareholder governance agreemen
MILAN : Pirelli investor Brembo is worried about strains between the tyremaker's Italian and Chinese shareholders and is likely to steer clear of any plan to build an Italian majority in the company, two sources told Reuters.
Brembo, which has a 6 per cent stake in the Formula One tyremaker has its own shareholder agreement with fellow investor Camfin, the investment vehicle of Pirelli CEO Marco Tronchetti Provera, who has led the company since 1992. Although Camfin owns only 14.1 per cent of the company, its grip has tightened as a result of the measures imposed by the Rome government.
Carlo Alberto Carnevale Maffè, a strategy professor at Bocconi University's School of Management said Italian businesses can no longer do without China, which has become one of the world's largest markets, including in automotive. Brembo on Tuesday announced plans to move its legal headquarters to the Netherlands to strengthen its loyalty share scheme in a move aimed at increasing M&A opportunities.