Brembo Raises Stake in Pirelli to 4.99 Percent

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Source: Nasdaq post

MILAN, Italy – Italian brake maker Brembo BRBI.MI said today it had increased its stake in tiremaker Pirelli to 4.99 percent and added it had “completed the acquisition process”, without giving further details.

In a surprise move in March, Brembo announced it had bought a 2.43 percent stake in Pirelli with “a non-speculative, long-term approach”.

Pirelli was not immediately available for comment.

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