Aug. 6 -The Pirelli Group grows in Russia, thanks to a joint venture between Pirelli, Russian Technologies and Fleming Family & Partners, called GHP Asset Management Holdings Ltd. Pirelli, thus confirms the strategic importance of the Russian market, taking the opportunity to increase its project participation, as agreed with the financial partner GHP, and the Russian Technologies associate. It is expected that Pirelli, over the next few months, will take over 65% in the joint venture, compared to the initial 50% stake, as GHP decreases its stake to 10%, from 25%, while Russian Technologies maintains its 25% share. The agreements between the parties will see Pirelli, in 2017, further increase its share in the joint venture with “put and call option” mechanisms on the entire remaining 10%share owned by GHP and a 15% share owned by Russian Technologies.
