Exor, the investment company of the Agnelli family — founders of Fiat — plans to acquire minority stakes in smaller Italian businesses, many of which are founder-led or family-owned,
the
Financial Times
reported.
Exor owns Fiat and Ferrari.
The family in recent years had appeared to be shifting its focus to other countries, the
FT
report noted. In addition to Fiat's merger with U.S. automaker Chrysler, Exor acquired U.S. reinsurer PartnerRe, and the holding company transferred its fiscal and legal status from Italy to the Netherlands, the article said.
The
FT
noted that Exor's interest in small- to medium-size businesses “comes after its financial firepower was depleted by its $6.9 billion acquisition of PartnerRe in 2015.”
Exor CEO John Elkann, a member of the Agnelli family, told the
FT
he is looking at companies with a high percentage of exports. (Source:
Financial Times
, April 4, 2017.)
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