Exor Sells 4% Stake in Ferrari for 3 Billion Euros

Milan: Exor has announced the successful pricing of its accelerated bookbuild offering, which involved the sale of approximately 7 million common shares of Ferrari. This transaction is valued at 3 billion euros.

According to Ansa News Agency, despite the sale, Exor remains Ferrari’s single largest shareholder, maintaining approximately 20% of the economic rights and 30% of the voting rights in Ferrari’s share capital. The company has expressed its commitment as a long-term shareholder of Ferrari. As part of the transaction, Exor has agreed to a 360-day lock-up commitment concerning its remaining common shares of Ferrari.

The offering is expected to settle on March 3, 2025. Goldman Sachs Bank Europe and J.P. Morgan are acting as joint global coordinators and joint bookrunners, with BNP Paribas, IMI – Intesa Sanpaolo, Soci©t© G©n©rale CIB, and UniCredit also serving as joint bookrunners for the offering.

Ferrari shares experienced a 7% drop in early trading on Thursday, falling to 449 euros.