Exor (company)

Gianni Agnelli

Declared shareholdings as of 31 August 2021:[5]

Besides these major holdings, the company holds shares in the following listed and unlisted companies:[7][8]

• Cameco
• Faurecia[9]
• Ocado Group
• Schlumberger

Exor's interest in new 21st century companies led to the launch of Exor Seeds, an early and late stage startup investment business, under the leadership of Noam Ohana since 2017. After four years, Exor Seeds has invested 250 million dollars in 42 companies around the world.[10]

On September 2021 Exor appointed Diego Piacentini, former Amazon and Apple Executive Manager, as Advisor of Exor and Chairman of Exor Seeds.[11]

On 5 October 2017 EXOR held its first Investor Day event, which was led by Exor & PartnerRe's leadership teams which provided financial updates and the latest developments from their respective companies.[13]

On 21 November 2019 a second one was hosted on the occasion of Exor's 10th anniversary. During the meeting John Elkann, together with the management team, illustrated the company's performances, growth and key achievements over the past 10 years.[14]

Both events took place at the Agnelli Foundation in Turin (Italy).

On May 24th, 2018 Exor established the Partners Council, chaired by former UK Chancellor of the Exchequer George Osborne. The Council brings together a group of business leaders that provide additional external experience and counsel into Exor.[15]

On September 27th, 2021 Jony Ive, former Apple Chief Design Officer of Apple, joined Exor’s Partners Council along with the announcement of a multi-year collaboration with his creative collective LoveFrom. [16]

On 12 August 2015 the editor announced that Exor would purchase three-fifths of The Economist Group shares then owned by Pearson PLC.[18] Exor held shares in the Economist Group prior to this purchase.[18] This was considered to be the "most important change to The Economist's shareholding structure in almost 90 years."[18] Pearson PLC which also owned the Financial Times had had a non-controlling 50% stake in the Economist Group since 1928. The Economist Group will buy back the remaining 40% of Pearson shares.[19][18]

On 2 September 2015 Exor closed the sale of Cushman & Wakefield to Chicago-based DTZ for $1,28 billion in net, generating a capital gain of $722 million.[20]

In 2016, Exor bought PartnerRe with a bid of $140 per share (total $6.9 billion).[21] Originally it had offered $130 per share and in response Axis Re offered $120.31 per share in paper plus $11.50 in a pre-closing dividend.[22]

In March 2020, Exor announced an agreement to sell PartnerRe to French mutual insurer Covea for $9 billion plus a $50 million cash dividend upon closing.[23][24] The sale was not finalised, as Covéa withdrew the offer on 12 May 2020.[25] In August 2020, Exor stated that Covea would invest €1.5 billion, partly in entities managed by PartnerRe.[26]

In December 2019, Exor agreed to buy a 43.7 per cent stake in GEDI Gruppo Editoriale, Italy's leading media group, for €102.4m from CIR, the holding company of the De Benedetti dynasty.[27][28] The acquisition was closed in April 2020.[29]

In December 2019, Fiat Chrysler Automobiles and the PSA Group announced a merger, to be completed in 12/14 months.[30][31][32] In July 2020, FCA's Chairman John Elkann and the CEO Mike Manley announced that the combined company will be called Stellantis, upon completion of the trans-Atlantic merger.[33][34] The merger completed on 16 January 2021, with its common shares subsequently trading under the ticker symbol "STLA" on the Italian Bourse, Euronext Paris and the New York Stock Exchange. At the completion date of merger, the combined company became the world's fifth-largest car maker by unit sales.[35]

On 14 April 2021, Exor and Peugeot 1810, both significant shareholders in Stellantis, signed a five-year agreement.[36]

In April 2020, Exor acquired 8.87% of Via Transportation.[37][38]

In August 2020, EXOR Seeds participated in the funding round launched by Cowboy, a Belgian e-bike start-up.[39]

In December 2020, Exor announced an investment of circa €80 million in the Chinese group Shang Xia, thanks to which the holding became the first Shang Xia shareholder with Hermés International.[40]

In March 2021, Exor enters the French fashion house Christian Louboutin as a minority shareholder with 24% of the capital and with an investment of 541 million euros.[41]

In March 2021, Exor Seeds participated as lead investor on raising the capital of Casavo, Italian proptech StartUp with an instant buying platform to sell, live and buying homes in Europe.[42]

On June 16th, 2021 Exor signed an agreement with World-Wide Investments Company Limited of Hong Kong, setting up the newco Nuo spa, 50% owned by Exor and 50% owned by WWICL, to encourage and enhance the development of Italian medium-sized enterprises that produce high-end consumer goods like Ludovico Martelli and Montura.[43]