Pirelli & C. SpA , Europe’s third- largest tiremaker, will sell its broadband communications unit as part of a reorganization that includes a spinoff of real- estate assets, Chairman Marco Tronchetti Provera said.
Ambienta SGR SpA plans to set up an environmental fund with the aim of trumping the 217.5 million euros ($276 million) it raised in October 2009 from investors including Intesa Sanpaolo SpA and a Macquarie Group Ltd. unit.
Pirelli & C. SpA Chairman Marco Tronchetti Provera said the tiremaker will proceed with the separation of the Pirelli & C. Real Estate SpA unit even as markets remain volatile, speaking to reporters in Milan today.
Ambienta SGR SpA, a private-equity investor in resource and energy efficiency, plans to sell its stake in green utility ICQ Holding SpA in the latest sign the industry is losing funding as governments withdraw support.
Pirelli & C. SpA Chairman Marco Tronchetti Provera said that Pirelli & C. Real Estate SpA, which the tiremaker is in the process of separating, “doesn’t need partners,” speaking to reporters in Venice today.
Ambienta SGR SpA, an investor in resource and energy efficiency, plans a 300 million-euro ($406 million) fund to tap demand for energy-saving natural-gas burners and generators as U.S. output of the fuel grows.