On the occasion of the mandatory takeover bid on the ordinary shares of Camfin Spa (promoted in June 2013 by Lauro61 Spa, then merged by incorporation into Camfin itself) Consob ordered the adjustment of the price, from 0,80 to 0,83 euro per share, raising the total outlay of approximately 8,5 million euros.
The decision was subsequently annulled by the Council of State, which, accepting the appeals presented among others by Marco Tronchetti Provera & C. Spa, judged the conduct contested by the Authority to be non-existent.
For this reason, the Camfin Board of Directors has decided to invite the shareholders who had benefited from the increase to donate the excess sums received to a non-profit research association which will be identified and communicated by Camfin to the shareholders themselves. About 80% of the requested amount will come from companies or institutional investors then shareholders.
Lauro 61 brought together Nuove Partecipazioni (controlled by Marco Tronchetti Provera), Clessidra, Unicredit and Intesa. The takeover bid kicked off the reorganization that allowed the Malacalza family to leave the Pirelli chain of control, with an operation in which Consob saw a collusion between the shareholders by deciding to raise the takeover bid price by 3 cents per share . A decision annulled by the Council of State which thus put an end to the affair.
