Brembo, rumors and background on the farewell to Pirelli. And Tronchetti Provera now…
Maybe it was too good to be true: a “high-end” component hub for the automotive sector. The Formula 1 tires together with the brakes supplied to the cars driven by Leclerc & Co. In fact, so good that it won’t be done. Brembo has given the mandate to sell its stake, exceeding 5.5%, through the procedure known as “accelerated book building”, the one that the MEF used to put shares of Monte dei Paschi di Siena on the market. End of the dream of an international champion and also the end of the dream of an Italy capable of joining forces to challenge the climate of global markets.
Brembo sells its package for 282.9 million euros. Of course, a good figure, albeit lower than the stock market value priced yesterday by the markets. But above all it achieves a capital gain of 73 million, not a figure that makes the veins and wrists tremble for a multinational like Brembo. A clear sign that the intent was not to make money. Marco Tronchetti Provera, through his Camfin, purchased another 2.5% of the capital and, as Milano Finanza reports, it is ready to reach 29.9%, just below the takeover threshold.
The question, however, remains: why Brembo chose to abandon Pirelli after purchasing an increasingly large package of shares starting in 2020? And here the rumors multiply. According to those in the know, in fact, in these four years no significant progress has been made with a view to the merger. And in Bergamo they would have lost patience.
It is also possible that Marco Tronchetti Provera, after the period of Chinese management, now wants to return to being dominus of Bicocca. The manager, who has always shown a remarkable strategic vision (whoever forgets the famous agreement with Rupert Murdoch for the transmission of content via satellite via the Telecom network, hurry and review) he probably has something big on the launch pad, so much so that it made the Bombassei family and the CEO of Brembo Tiraboschi understand that the conditions to talk about partnership and merger no longer existed. It’s a shame, because in the era of global giants, an all-Italian champion in the world of car components, especially in a moment of epochal transition for the automotive world, would have brought prestige to our country. We’ll see what the two great old men of our local industry will come up with out of the hat.
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