(Bloomberg) -- Exor NV is offering a 4% stake in luxury carmaker Ferrari NV. 

Exor, an investment vehicle for Italy’s Agnelli family, is looking to sell seven million shares, according to a statement Wednesday. The transaction could raise €3.38 billion ($3.55 billion), based on Wednesday’s closing price. 

Proceeds for Exor will go toward a “sizable new acquisition” when the opportunity arises and a €1 billion share buy-back program, the shareholder said in the statement.

Goldman Sachs Group Inc. and JPMorgan Chase & Co. are arranging the sale.

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