Agnelli Family - Business Outrank

Ferrari has seen a major stake sale as the Agnelli family, one of its key stakeholders, has offloaded a part of their shares worth around €3 billion ($3.14 billion). However, the billionaire family still owns the majority of shares and is the largest shareholder in Ferrari as they own about 30% of the voting rights of the company according to a Bloomberg report. The Rationality Behind the Decision The family has decided to divest from the stake because they want to diversify their investment portfolio with a “sizable” new acquisition while at the same time announcing a €1 billion share buyback. However, Ferrari NV has revealed its desire to buy back as much as 10% of the shares that were sold by the family, with a limit of €300 million. The Agnelli family, the owners of Ferrari through Exor NV, their investment holding company, has offloaded seven million common shares or about 4% of Ferrari’s capital. The share was sold through an accelerated bookbuilding to institutional investors with the help of Goldman Sachs and JPMorgan Chase. The offering is expected to be delivered on March 3. The stake sale comes after Ferrari has seen its stock performance, the luxury automaker’s valuation has risen more than ten times since its US Initial Public Offering (IPO). Ferrari was once a part of Fiat and is now Stellantis NV and was spun off nearly a decade ago. Its market capitalization on the New York Stock Exchange has now exceeded $120 billion, this is after the company has maintained its position as a leading supercar manufacturer.

What's Hot

Digital Infrastructure Boost: CtrlS Datacenters Partners with BSE to Strengthen Stock Exchange Operations

Rail Infrastructure Boost: Coal India Signs Pact with Indian Port Rail & Ropeway Corp

FY25 Rollercoaster for New-Age Stocks: Eternal, Nykaa Shine While Paytm, Swiggy Struggle

Virus Susceptibility in Species: Study Reveals Surprising Findings

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

Priyanka Chopra’s Stunning Desi Look Steals the Spotlight at Her Brother’s Wedding Festivities

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Virus Susceptibility in Species: Study Reveals Surprising Findings

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Browsing: Agnelli Family

Ferrari Stake Sold as Agnelli Family Offloads €3 Billion, Still Largest Shareholder

Digital Infrastructure Boost: CtrlS Datacenters Partners with BSE to Strengthen Stock Exchange Operations

Rail Infrastructure Boost: Coal India Signs Pact with Indian Port Rail & Ropeway Corp

FY25 Rollercoaster for New-Age Stocks: Eternal, Nykaa Shine While Paytm, Swiggy Struggle

Reddit Sues Anthropic Over Chatbot Training Using User Data Without Consent

Our Picks

Digital Infrastructure Boost: CtrlS Datacenters Partners with BSE to Strengthen Stock Exchange Operations

Rail Infrastructure Boost: Coal India Signs Pact with Indian Port Rail & Ropeway Corp

FY25 Rollercoaster for New-Age Stocks: Eternal, Nykaa Shine While Paytm, Swiggy Struggle

Most Popular

Digital Infrastructure Boost: CtrlS Datacenters Partners with BSE to Strengthen Stock Exchange Operations

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: Agnelli Family