(Tiper Stock Exchange) – Exorthe holding company of the Agnelli family, it has available liquidity of around 6.5 billion euros which can be used for investments. This was stated by the managing director John Elkann during a presentation to the financial community. In particular, 5 billion euros could be used for acquire new companies, aiming in particular at one large company and 3-5 smaller oneswith a focus on the healthcare, luxury and technology sectors.
However, other sectors deemed “sufficiently attractive” will also be evaluated. “We are in a study phase – added Elkann – and we are encouraged by the many companies that exist”.
The remaining 1.5 billion euros are earmarked for investments in other assets through i Venture vehicles and the newly established one Ingot.
In another passage he said that “Exor is proceeding according to the objectives in the short and long term”, indicating a decrease in debt of “approximately 600 million to 3.7 billion euros”.
“We took advantage of the deep discount value of our net assets (NAV) for accelerate share buybacks for approximately 200 million euros”, he continued, recalling the completion of the transfer of the listing from Piazza Affari to Amsterdam, which ended on 27 September last, with the farewell to the Milanese list.