Brembo Gobbles Up 2.43% Stake In Pirelli

Brembo has announced that it has acquired a small “long-term” stake in Pirelli, both directly and indirectly through its Nuova FourB parent company.

The 2.43% stake was reportedly purchased without Pirelli’s (or its shareholders’) knowledge. The tiremaker’s shares are down by roughly 40% so far this year, as reported by Autonews Europe.

“By adopting a long-term non-speculative approach, Brembo has autonomously decided to invest in Pirelli, whose history, brand, leading position and innovation-oriented approach makes it, just like Brembo, an excellent and particularly significant company in its industry.”

PUGPROUD - 4/1/2020 11:11:00 AM

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Interesting considering Brembo's market value is about 33% less than Pirelli.

MDarringer - 4/1/2020 12:30:03 PM

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Why?