Brembo Exits Pirelli with €282.9M Sale

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Brembo N.V. successfully completed the accelerated bookbuilding process for the sale of its entire stake in Pirelli & C. S.p.A. The sale involved 55.8 million ordinary shares, which account for approximately 5.58% of Pirelli’s issued share capital, generating gross proceeds of €282.9 million. The shares were sold to institutional investors at €5.07 per share, with settlement expected to occur on October 4, 2024. BNP Paribas acted as the sole global coordinator and bookrunner for the transaction, while legal counsel was provided by Skadden, Arps, Slate, Meagher & Flom (UK) LLP.

Key Highlights:

• Shares Sold: 55.8 million ordinary shares of Pirelli & C. S.p.A.
• Stake Size: Approximately 5.58% of Pirelli’s issued share capital.
• Sale Price: €5.07 per share.
• Total Proceeds: €282.9 million.
• Settlement Date: October 4, 2024.
• Involved Parties: BNP Paribas (global coordinator and bookrunner) and Skadden, Arps, Slate, Meagher & Flom (UK) LLP (legal counsel).

This transaction marks Brembo’s exit from its holding in Pirelli, a well-known tire manufacturer, through an accelerated bookbuilding process. The placement was aimed at institutional investors, helping Brembo N.V. secure a significant capital inflow.

About Brembo

Brembo N.V. is a global leader in the design and manufacturing of high-performance braking systems. Founded in 1961 in Italy, Brembo is renowned for providing advanced braking solutions to major manufacturers of cars, motorcycles, and commercial vehicles. The company also plays a crucial role in motorsports, having won over 600 titles worldwide. Brembo continues to pursue its vision of shaping the future of mobility through innovative, sustainable solutions. In 2023, Brembo achieved a turnover of €3.849 billion, with a presence in over 15 countries, employing over 16,000 people globally.

For more information, visit www.brembo.com.