Milano, 07 December 2004

Banca Intesa also becomes a shareholder of Camfin with 1.8% stake

 

In the framework of the Telecom-Tim transaction, Banca Intesa will buy from GPI SpA 9,056,014 pre-emptive rights related to Camfin SpA capital increase at a price of € 0.194 each and underwrite this capital increase according to the number of shares deriving from these pre-emptive rights, 6,037,343 new Camfin SpA shares, at a price of € 1.60 each, for a total consideration of approximately € 11 million approximately 1,8% stake.     

 

In addition, Banca Intesa will buy from Camfin SpA 21,569,205 Pirelli & C SpA ordinary shares at a price of € 0.921 each and 50,180,652 Pirelli & C SpA warrants at a price of € 0.101 each, convert these warrants into Pirelli & C Spa ordinary shares (1 share every 4 warrants at a price of € 0.52), therefore owning 34,114,345 Pirelli & C ordinary shares and underwrite the capital increase of  Pirelli & C SpA according to the number of  shares deriving from the corresponding pre-emptive rights, 13,645,738 new Pirelli & C ordinary shares, at a price of   € 0.7 each, for a total consideration of approximately € 41 million, approximately 1% stake admitted to the syndicate agreement of Pirelli & C.

 

After being admitted to the syndicate agreement, Banca Intesa is willing to further invest in Pirelli & C SpA for a total consideration up to  € 30 million.