MILAN, March 17 Russia's top oil producer
Rosneft is set to acquire an indirect stake in Pirelli
after reaching an outline deal with a group of
shareholders in the Italian tyre maker valuing its shares at 12
Rosneft will own 50 percent of a new company which will buy
holding company Camfin's stake in Pirelli, Italian bank Intesa
Sanpaolo said in a statement on Monday.
Camfin currently owns 20.3 percent of Pirelli according to
the website of market regulator Consob.
The other 50 percent of the new company will belong to a
company 80-percent owned by current Pirelli indirect shareholder
Nuove Partecipazioni. Italian banks Intesa and UniCredit
will each own 10 percent of the new company.
As part of the deal Italian private equity firm Clessidra
will sell its stake in Pirelli, the statement said.
Shares in Pirelli ended at a reference closing price of
12.04 euros a share on Friday.
(Reporting by Valentina Za; editing by Agnieszka Flak)