Juventus, Agnelli-Elkan collect: 9 billion for Exor to sell PartnerRe

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 $6.9 billion takeover of French giant Covea. write it sun 24 hourswhich highlights how the 9 billion euro operation will generate a capital gain of 3.2 billion euro in the group’s coffers.

Big deal for Exor wallet, of which PartnerRe currently accounts for 22.2 percent, Such as Juventus (which instead represents 2 percent). To understand how this revenue is managed: “For Exor – he writes at the end in the Economic Gazette – closing the Partner Re case means pooling a significant amount of resources to be diverted to new investments and perhaps, at least in part, towards the Agnelli family, the holding company’s number one shareholder.”

By the end of the year, Juventus expects a capital increase of 400 million euros, which has already been approved by the board of directors. Exor has already paid 75 million of it as a down payment, and has pledged to underwrite 63.8 percent of its remit (the rest will be covered by four banks if minority shareholders remain unselected); In this regard, the shareholders’ meeting will be held on the same day the financial statements will be approved as on June 30, 2021.

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