Ferrari's Largest Shareholder Exor Pares Down Stake

MT Newswires Live

Feb 27, 2025

Ferrari (RACE) stakeholder Exor said Thursday that it has sold 7 million of its shares in the Italian carmaker, or about 4% of the total outstanding shares of the company, to institutional investors for total proceeds of 3 billion euros ($3.14 billion).

Ferrari said Thursday that it committed to buying 666,666 of the shares for a total of 300 million euros as part of a 2.0 billion euro repurchase program now under way.

Ferrari and Exor said the transactions are expected to settle on March 3.

Exor, a Dutch-listed holding company, said that it remains Ferrari's single largest shareholder with about 20% of economic rights and 30% of the voting rights after the sale. It has also has agreed to a 360-day lock-up commitment for its remaining shares.

Ferrari shares were down more than 3.8% in recent premarket activity.

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It has also has agreed to a 360-day lock-up commitment for its remaining shares.</p><p>Ferrari shares were down more than 3.8% in recent premarket activity.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RACE","symbol_name":"法拉利","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2514705308","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2514705308","pubTimestamp":1740655130,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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