Exor, the holding company of the Agnelli family, is ready to sell PartnerRe, a reinsurance company acquired in 2016 at the end of a hostile takeover of 6.9 billion, to the French giant Covea. He writes it The sun 24 hours, which highlights how the operation, worth 9 billion euros, will bring a capital gain of 3.2 billion euros to the group’s coffers.
A significant deal for Exor’s portfolio, of which PartnerRe currently represents 22.2 percent, and of which the Juventus (which instead represents 2 per cent). To understand how this income will be managed: “For Exor – writes the economic newspaper at the end – the closing of the Partner Re affair means accumulating a huge amount of resources to be conveyed towards new investments and perhaps, at least in part, towards the Agnelli family, first shareholder of the holding “.
By the end of the year, the Juventus club is expecting the capital increase of 400 million euros, already approved by the Board of Directors and of which Exor has already paid 75 million as an advance, pledging to subscribe the 63.8 per cent of its competence (the rest will be covered by four banks in the event that the minority shareholders remain unopted); In this regard, the shareholders’ meeting will be held on the same day in which the financial statements as at 30 June 2021 will also be approved.
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