Shareholders have approved the name change of Pirelli Real Estate to Prelios S.p.A, the company said in a press release. As announced earlier, Pirelli RE is to be separated from the Pirelli & C group by the end of this year. Under the plan, Pirelli group will assign its 58% stake in Pirelli & C Real Estate to its own shareholders.
Shareholders have approved the name change of Pirelli Real Estate to Prelios S.p.A, the company said in a press release. As announced earlier, Pirelli RE is to be separated from the Pirelli & C group by the end of this year. Under the plan, Pirelli group will assign its 58% stake in Pirelli & C Real Estate to its own shareholders.
The Shareholders’ Meeting also resolved to grant the Board of Directors the power to increase the share capital by a maximum of 10% of the pre-existing share capital through the issue of ordinary shares without pre-emptive rights. As previously announced, Mediobanca and UniCredit have expressed interest in subscribing to a capital increase for a total of EUR 20 mln, divided equally between them.
The Shareholders’ Meeting also confirmed the appointment of Enrico Parazzini as Managing Director Finance. Parazzini will work with top management alongside the company’s Chief Executive Officer Giulio Malfatto,