Strategic Move by Exor N.V. to Unlock Ferrari’s Value
In a significant development, Exor N.V. has successfully completed an accelerated bookbuild offering, divesting approximately 4% of Ferrari’s outstanding shares to institutional investors. This strategic move is expected to generate substantial proceeds for Exor, underscoring the company’s commitment to diversifying its portfolio and pursuing new growth opportunities.
The transaction, which is slated to settle on March 3, 2025, will see Exor retain its position as Ferrari’s single largest shareholder, holding approximately 20% of the economic rights and 30% of the voting rights in Ferrari’s share capital. This move is a deliberate step towards unlocking Ferrari’s value, enabling Exor to capitalize on the luxury sports car manufacturer’s immense potential.
The sale proceeds will be allocated towards a sizeable new acquisition, as well as a €1 billion share buyback program. This strategic allocation of resources will enable Exor to strengthen its position in the market, while also creating opportunities for growth and expansion.
Key Highlights:
- Sale of approximately 4% of Ferrari’s outstanding shares to institutional investors
- Proceeds to be used for a sizeable new acquisition and a €1 billion share buyback program
- Exor to retain approximately 20% of the economic rights and 30% of the voting rights in Ferrari’s share capital
- Transaction expected to settle on March 3, 2025