Exor Cutting Its Ferrari Stake by Roughly 16%

Ferrari repurchased 300 million EUR at €450/share

Yesterday, Exor announced it would dispose 7 million Ferrari shares through an accelerated bookbuild sale, to be settled on March 3. That’s a 15.75% trim, with a 360-day lock-up period for its remaining position. Exor NV will continue to be a majority shareholder with a current stake of 20%.

As per yesterday’s press release: