| Type | Società per azioni |
|---|---|
| Traded as | BIT: EXO |
| Industry | Holding company |
| Founded | 1 March 2008 |
| Headquarters | Turin, Italy |
| Key people | John Elkann (Chairman and CEO) |
| Products | Industrial holdings |
| Operating income | €1.953 billion (2010)[1] |
| Profit | €137 million (2010)[1] |
| Total assets | €78.71 billion (end 2010)[1] |
| Total equity | €15.20 billion (end 2010)[1] |
| Employees | 42 (end 2010)[1] |
| Website | www.exor.com |
Exor S.p.A. is an Italian-based industrial holding company controlled by the Agnelli family. The firm dates back to 1927 when Giovanni Agnelli formed Istituto Finanziario Italiano (IFI) to manage his investments in Fiat, Cinzano and other companies, as well as his interests in the village of Sestriere. Exor continues to hold a significant stake in Fiat to this day. Shares in the company are listed on the Borsa Italiana and are a constituent of the FTSE MIB index.
In 1957 IFI acquired control of Istituto Commerciale Laniero Italiano, which conducted activities in the financial field, particularly in the textile and wool sector. In 1963 Istituto Commerciale Laniero Italiano extended its operations to the banking system and changed its name to Istituto Bancario Italiano Laniero. Three years later, having spun off the banking business to Banca Subalpina, the company became Istituto Finanziario Italiano Laniero (IFIL), playing a parallel role to that of IFI and conducting similar investment management activities.
IFI gained holdings in numerous firms over the decades, including Unicem and 3M, many of which have since been divested. IFI listed preference shares on the Borsa Italiana in 1968. A reorganisation of the Agnelli family's holdings in 2008 led to the merger of IFI and IFIL to create Exor, the new name being taken from the French company (then the majority owner of Perrier water and the Château Margaux estate) which it acquired in 1991.[2]
The family firm Giovanni Agnelli & C. owns 59% of ordinary shares and 39% of preferred shares in Exor, Mackenzie Cundill Group holds 13.2% of ordinary shares, Bestinver (an investment subsidiary of Acciona) owns 15.4% of preferred shares and the remainder of both classes of stock is free float.[3]
Declared shareholdings as of April 2011 were:[4]
| Company | % of share capital |
|---|---|
| Alpitour World | 100% |
| Cushman & Wakefield | 69.83% |
| Juventus Football Club | 60% |
| Almacantar | 54.98% |
| Vision Investment Management | 42.50% |
| Fiat | 30.45% |
| Fiat Industrial | 30.45% |
| Sequana Capital | 28.24% |
| Banca Leonardo | 17.41% |
| Banijay Entertainment | 17.09% |
| SGS | 15% |
| Economist Group | 4.72% |
| Perella Weinberg Partners | 2.00% |
| BTG Pactual | 0.26% |
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