Exor has up to EUR 3bn to make major buy
Exor, the listed Italian holding of the Agnelli family, has up to EUR 3bn available to make a major buy in Europe and the US, Italian language daily Il Sole 24 Ore reported. The unsourced report said that Exor is looking to acquire a majority stake in a global company able to generate more stable revenues than in the car sector. The report said that an insurance company could be a possible target.
The item added that EUR 3bn might not be enough to acquire a controlling stake in such a major player so it is likely that Exor would team up with another major international investor to carry out the transaction.
The report noted that Exor controls Italian-US car maker Fiat Chrysler Automobiles, while its other main holdings are in property.
Source Il Sole 24 Ore