Rosneft is Extending Cooperation with Pirelli & C. S.p.A.

Марта 18, 2014

Rosneft has reached an agreement with international consortium composed of Unicredit Bank, Intesa Banking Group, and Clessidra Fund for purchase of 50% share of the company holding 26.19% of Pirelli & C. S.p.A. stake.

The transaction will be carried out at a value of 12 euro per share subject to mechanisms for corporate cooperation with possible creation of a separate legal entity. The parties will sign final agreements subject to Italian, European, and Russian Law.

Implementation of this agreement will tighten business relationships between Rosneft and Pirelli & C. S.p.A. under terms of agreements previously reached and implementation of plans of the companies for extension of joint international projects.