Pirelli acquires Hevea-Tec

Pirelli acquires Hevea-Tec, the biggest independent processor of natural rubber in Brazil in a press release dated July 4

Pirelli signed an agreement to acquire 100% of Hevea-Tec, the biggest independent processor of natural rubber in Brazil. The operation will be on the basis of an Enterprise Value of around 22.9 million USD, subject to the usual adjustments at the closing - once certain conditions including approval from the Antitrust authorities have been met – which is expected to take place by the end of 2023. The acquisition will not impact the 2023 net financial position target of around 2.56 billion USD.