CORRECT: Immsi Chairman: Won't Sell Controlling Stake In Piaggio
17 Novembre 2010 - 11:52AM
Dow Jones News
Immsi SpA (IMS.MI) Chairman Roberto Colaninno said Thursday the
group won't give up its controlling stake in Italian scooter maker
Piaggio & C SpA (PIA.MI).
Immsi said last week it had sold five million shares in Piaggio,
more than 1% of the company, to Banca IMI SpA, a unit of Intesa
Sanpaolo SpA (ISP.MI).
The shares were to be resold to institutional investors, and a
person familiar with the situation told MF-Dow Jones last week that
Banca IMI had already sold the shares.
"No, absolutely not," Colaninno, who is also the chairman and
chief executive of Piaggio, told Dow Jones Newswires when asked if
Immsi would sell off its controlling stake in Piaggio.
"We hold the majority still; we have more than 50%," he said.
"We sold 1% of the company because it was a requirement for some
investors."
"We're very happy that these investors are becoming partners of
our company."
-By Chun Han Wong; Dow Jones Newswires; +65 6415 4202;
chunhan.wong@dowjones.com
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