Exor ( (NL:EXO) ) has provided an announcement.
Exor N.V. has announced the sale of approximately 4% of its shares in Ferrari through an accelerated bookbuild offering to institutional investors. This transaction aims to reduce Exor’s portfolio concentration, allowing for a new acquisition and a €1 billion share buyback program. Despite the sale, Exor remains committed to Ferrari, retaining its position as the largest shareholder with significant economic and voting rights. The governance structure of Ferrari will remain unchanged, and Exor has agreed to a 360-day lock-up on its remaining shares.
More about Exor
Exor N.V. is a prominent investment company founded by the Agnelli Family, known for its entrepreneurial spirit and financial discipline. It holds significant stakes in major companies such as Ferrari, Stellantis, Philips, and CNH, focusing on building great companies and making successful investments worldwide.
YTD Price Performance: 9.18%
Average Trading Volume: 1,784
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $33.15B
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