Pirelli sells stock in industrial developer

Pirelli & Cie SpA has sold its remaining stake in Intek SpA to Quattroduedue Holding BV for five million euros.

Pirelli's stake in Intek, an Italy-based industrial development company, equaled 1.7% of the firm's total common shares.

"The transaction was carried out in execution of the put and call agreement between the two companies signed on Jan. 9, 2007," say Pirelli officials.