Italy's Pirelli Real Estate will launch a capital increase of up to EUR 400 mln as part of its 2009-2011 industrial plan aimed at nearly doubling its profit margin over the next three years. Pirelli & Co, which controls over 55% of Pirelli Real Estate, said on Wednesday that it will underwrite Pirelli RE's capital hike for a quota corresponding to its interest in the business. The operation should be completed in the first half of the year, it said.
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