Exor sells 4 per cent of Ferrari for 3 billion euros

Published 9 months, 3 weeks ago

Exor, the holding company of Italy’s Agnelli family, said on Thursday that it raised about 3 billion euros after selling an approximately 4 per cent stake in Ferrari to international investors.

Ferrari shares dropped by 7 per cent in early trading on Thursday to 449 euros. (Photo: ANSA)

The company announced the “sale of approximately 7 million common shares of Ferrari” in a statement.

“Following completion of the transaction, Exor will remain Ferrari’s single largest shareholder with approximately 20 per cent of the economic rights and 30 per cent of the voting rights in Ferrari’s share capital and remains fully committed as a long-term shareholder of Ferrari,” Exor said via a statement.

“Moreover, in the context of the transaction, Exor has entered into a 360-day lock-up commitment, with respect to its remaining common shares of Ferrari.

“The Offering is expected to settle on March 3, 2025.”

ANSA

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