Brembo has announced that it has acquired a small “long-term” stake in Pirelli, both directly and indirectly through its Nuova FourB parent company.

The 2.43% stake was reportedly purchased without Pirelli’s (or its shareholders’) knowledge. The tiremaker’s shares are down by roughly 40% so far this year, as reported by Autonews Europe.

“By adopting a long-term non-speculative approach, Brembo has autonomously decided to invest in Pirelli, whose history, brand, leading position and innovation-oriented approach makes it, just like Brembo, an excellent and particularly significant company in its industry.”

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Brembo Gobbles Up 2.43% Stake In Pirelli

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