Published by Global Banking & Finance Review®
Posted on January 23, 2026
1 min readLast updated: January 23, 2026
Camfin will not renew its shareholder agreement with Sinochem, as Italy's government evaluates Sinochem's influence on Pirelli amid US expansion efforts.
MILAN, Jan 23 (Reuters) - Italy's Pirelli investor Camfin said on Friday it would not renew its shareholder pact with China's Sinochem.
The decision comes as the Italian government is assessing options to limit Sinochem's influence over Pirelli, or even turn it into a passive shareholder, as part of efforts to facilitate the tyremaker's U.S. expansion.
"It was not possible to find solutions with Sinochem to adapt company's governance to U.S. regulatory requirements," Camfin said in a statement.
Reuters reported last week that the top two investors were set to let their shareholder agreement lapse, according to two sources close to the matter.
Beijing-controlled Sinochem is Pirelli's largest shareholder with a 34.1% stake while Camfin, the vehicle of Italian businessman Marco Tronchetti Provera, holds a 25.3% stake, with plans to increase it up to 29.9%.
(Reporting by Sara Rossi, editing by Gianluca Semeraro)
Corporate governance refers to the systems, principles, and processes by which a company is directed and controlled, ensuring accountability and transparency in its operations.
Equity represents ownership in a company, typically in the form of stocks or shares, which entitles shareholders to a portion of the company's profits and assets.
A shareholder pact is a legal agreement among shareholders that outlines their rights and obligations, including how decisions are made and how shares can be sold or transferred.
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