Shearman & Sterling is advising Pirelli & C. Real Estate S.p.A. on a €400 million capital increase with preferential subscription rights. The rights issue consists of a public offering in Italy and an international private placement.

The subscription period runs from June 15, 2009 to July 3, 2009 inclusive.

Pirelli RE is Italy’s leading property investment company and is an affiliate of the Pirelli Group.

Shearman & Sterling’s team is led by partner Michael Bosco (Rome-Capital Markets), assisted by associate Emanuele Trucco (Rome-Capital Markets) and trainees Marco Barbi (Rome-Capital Markets) and Matteo Melis (Rome-Capital Markets).