It is reported that, funded by China's Sinochem to set up Marco Polo industrial holding company, recently passed a mandatory tender offer completed on Pirelli (Pirelli) in shareholders equity of about 70.6% of the acquisition. These shares represent approximately 54% of Pirelli’s shares.
Marco Polo acquires approximately 70.6% stake in Pirelli
In this way, plus the previously held shares, Marco Polo already holds about 87% of Pirelli's shares and becomes its largest shareholder. According to the media, such a high percentage of equity is close to the red line of 90% of Pirelli’s privatization.
According to the latest news obtained by the media, nearly half of Pirelli's board of directors has submitted resignations to the company.
From October 19, 2015, five board members will not serve on Pirelli's board of directors. They are Anna Maria Artoni, Didier Casimiro, Ivan Glasenberg, Petr Lazarev and Igor Soglaev.
The Pirelli Board of Directors has a total of 15 members. The other two board members, Paolo Fiorentino and Gaetano Miccichè, resigned as directors as early as August 1, 2015.
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