Pinarello set to be sold to South African mining billionaire, reports suggest Former Glencore CEO Ivan Glasenberg is in the final stages of acquiring an 80 percent stake in the iconic Italian brand, according to sources close to the company cycling
, and was looking for a partner to help fund his bid.
“It’s normal for a fund to want to leave after six years,” he said about the investment firm’s planned exit at the time. “I’m giving it a little thought and with a partner who believes in the project I think we could go a long way. The sector works and we are happy. And I am more than willing to continue to pass on the tradition.”
It is believed that any takeover by Glasenberg would also include Fausto Pinarello in its plans, ensuring the family name remains embedded in the company’s prestigious 70-year history.We’ve noticed you’re using an ad blocker. If you like road.cc, but you don’t like ads, please consider subscribing to the site to support us directly. As a subscriber you can read road.cc ad-free, from as little as £1.99.
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Ivan Glasenberg nears deal to buy elite cycling brand Pinarello\n\t\t\tExclusive scoops\n\t\t\tSmart data to help spot risk and opportunity\n\t\t\tAnalysis of broader trends in M&A\n\t\t\tLex, our agenda-setting business commentary (Premium only)\n\t\t\tDue Diligence, an exclusive M&A newsletter (Premium only)\n\t\t
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