March 21, 2019 / 5:23 PM / 2 months ago

Italy's Intesa to acquire 10.7 pct voting rights of investment vehicle Camfin

MILANO, March 21 (Reuters) - Italian investment vehicle Camfin said on Thursday it had signed a term sheet with Intesa Sanpaolo for the entry of Italy’s biggest retail bank into its capital.

Intesa will underwrite a reserved capital increase of 40 million euros ($45.38 million) and will become the owner of 10.7 percent of voting rights in Camfin, Camfin said in a statement.

Camfin owns a stake in Italian tyre company Pirelli . ($1 = 0.8814 euros) (Reporting by Gianluca Semeraro; editing by Agnieszka Flak)

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