Lumina Crown, an independent Czech private investment company founded by entrepreneur and investor Michal Strnad, has purchased n. 151,883,471 shares of Pirelli & C. S.p.A., (approximately 14% of the share capital of Pirelli & C. S.p.A. “Pirelli”) through an on-market block trade on Euronext Milan (via TCS). The stake had been placed for sale by Marco Polo International Italy S.r.l., a wholly-owned subsidiary of China National Tire & Rubber Co., Ltd (CNRC). The purchase is not subject to antitrust or golden power approvals.
Following the transaction, CNRC’s stake in Pirelli has decreased from 34% to 20%, approximately, and Lumina Crown has become Pirelli’s third-largest shareholder. Lumina Crown’s investment represents the first significant change in Pirelli’s shareholder structure since the company’s return to public markets in 2017 and marks an important step in the diversification of the company’s shareholder base.
Pirelli is globally recognized as one of the world’s leading tyre manufacturers, renowned for its premium market positioning, technological innovation, strong brand equity and longstanding industrial heritage. Operating in more than 160 countries, the company has established itself as a global leader in high-value and high-performance mobility solutions.
“We are pleased to make this long-term investment in Pirelli, a company that has long been a global leader in its sector, with a unique heritage, strong premium positioning and a proven track record of innovation. We have great confidence in Pirelli’s strategy, management team and ability to continue delivering sustainable long-term value to all stakeholders. Our investment reflects our disciplined strategy of supporting outstanding businesses that combine leading market positions, durable competitive advantages, world-class brands and robust growth potential. It also demonstrates our ability to identify and execute highly attractive opportunities globally, with conviction and discipline.”
Lumina Crown is an independent private investment company founded by Czech entrepreneur and investor Michal Strnad. Lumina Crown’s investment strategy is focused on long-term responsible and engaged ownership in market-leading businesses with durable competitive advantages and significant growth potential.