Connect with us

Business

Ferrari owner Exor to move from Milan Stock Exchange to Amsterdam – WWD

Published

on

 


MILAN- The Agnelli family’s holding company, Exor, is changing its public listing from the Milan Stock Exchange to the Amsterdam Stock Exchange.

The company, which is currently listed on Euronext in Milan, plans to move to Amsterdam to align with its legal structure.

Exor controls a wide range of companies ranging from car manufacturer Ferrari to fashion brand Shang Xia, which is owned by Hermès International. He also owns The Economist and Gedi Gruppo Editoriale, parent company of Italian newspaper La Repubblica.

It has been a Dutch-registered entity since 2016, although it maintains operations in Italy, including the fashion division of the Ferrari brand.

Listing in Amsterdam is currently pending approval by the Dutch Financial Markets Authority. It is expected to come into effect in mid-August when the common shares of Exor are transferred.

In the interim period leading up to the Milan delisting, the shares will be listed on both stock exchanges.

Exor has become a giant holding company, with a turnover of 136 billion euros in 2021 and a profit of 1.7 billion euros. Its revalued net assets amounted to 31 billion euros as of December 31, 2021.

On Friday, the holding also announced its intention to continue its buyback program announced in March. A second installment of up to €250 million will take place on Euronext Amsterdam and Euronext Milan.

Last year, Exor-owned Fiat Chrysler Automobiles and French automaker PSA completed their merger to form a company called Stellantis.

Stellantis includes brands ranging from Fiat and Alfa Romeo to Chrysler, Jeep, Peugeot, Citroën and Maserati. The merger was orchestrated by Chairman and CEO John Elkann, who has led the family holding company for 16 years.

Lately, the company has invested more in luxury. In 2020, he funneled around 80 million euros into Shang Xia, while last year he acquired a 24% stake in the Christian Louboutin brand.

It has also set up a partnership with The World-Wide Investment Company Ltd., which is owned by the Hong Kong Pao family. They created a new company called Nuo SpA to invest in excellence in consumer goods by supporting the global development of medium-sized Italian companies.

Although rumors have swirled around Exor or Ferrari’s possible interest in the Giorgio Armani group, both parties have ruled out speculation.

Last year, an Exor spokesperson told WWD that the holding “invests in individual companies, not industries, and in exceptional companies and founders who share common values, and where it can add value. value and create great companies It is the quality of the company, its team and its culture and its attractive prospects that are the main drivers of the decision to invest.

Sources

1/ https://Google.com/

2/ https://wwd.com/business-news/financial/ferrari-owner-exor-milan-amsterdam-bourse-1235265941/

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]