Pirelli to acquire 60 percent of Brazil tire distributor

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Pirelli to acquire 60 percent of Brazil tire distributor
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! S/ M- y3 y: V0 T+ OWednesday, April 18, 2012
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Milan, Italy - Pirelli has signed an agreement to acquire 60 percent of the company equity in Campneus, one of Brazil’s major tire distribution networks for approximately 54 million real (17.1 million pounds), subject to adjustment on the basis of the asset situation on the closing date. The share has been obtained from the Faria da Silva family, who established Campneus in 1975 with assistance from Pirelli’s Brazilian subsidiary. The agreement is subject to approval by CADE, the Conselho Administrativo de Defesa Economica Brasiliano, and finalization is expected at the end of the first half of 2012.