Sale of Pirelli Broadband Solutions to ADB finalized

Milan, 29 November 2010 - In execution of the agreements announced to the market on October 21st, 2010, the sale by Pirelli of the entire capital of Pirelli Broadband Solutions SpA (PBS) to Advanced Digital Broadcast Group (ADB) was today finalized. The transaction is now completed and closed. The amount paid by ADB consists of about 25,1 million euros in cash and 400,000 listed ADB shares, equal to approximately 7.2% of its capital. With regard to these shares, Pirelli & C. has undertaken a lock-up commitment for the first two months following the closing, as well as a put option for Pirelli & C. and a call option for ADB, which can be exercised within two years. PDF Version (27KB)