Italy Investigates Sinochem for Alleged Breach in Pirelli Governance

The Italian government has launched a probe into Sinochem's compliance with restrictions meant to protect national strategic assets.

Italy's administrative procedure targets Sinochem, which holds a 37% stake in Pirelli, over potential violations of the 'golden power' provisions.
The 'golden power' rules, invoked in mid-2023, restrict access to sensitive information and require higher voting thresholds for strategic decisions.
The investigation focuses on whether Sinochem's directors at Pirelli have conflicting roles within the Chinese conglomerate.
Sinochem has denied any breach of the restrictions and is confident in clarifying its compliance with the golden power measures.
The Italian government cites the critical nature of technology in Pirelli tires, which collect data crucial for national security, as a reason for the probe.