Pirelli & C signs agreement to sell 7 pct Gim stake to Quattroduedue Holding |
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Published
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Wed, 10 Jan 2007 15:04
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MILAN (AFX) - Pirelli & C Spa has signed an agreement that will give it the right to sell its 7.04 pct stake in Gim SpA to Quattroduedue Holding BV, the company that controls Intek SpA which is planning to merge with Gim.Under the agreement, Pirelli & C and Quattroduedue Holding will respectively have the right to sell and buy the Gim stake for 13.1 mln eur, once the merger with Intek is officially completed.The accord gives Quattroduedue Holding the right to buy the stake in a series of tranches any time before May 31, 2008.If by that date Quattroduedue Holding has not exercised its option on the entire stake, Pirelli will have the right to sell the shares to a third party and be compensated for any price difference that may ensue.stephen.jewkes@thomson.comtfn-mil-sj/icCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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