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Exor renews Ferrari shareholder agreement with founder's son
Exor and Piero Ferrari hold over 48% voting rights in Ferrari and secured coordinated shareholder control through a renewed agreement lasting until 2029 with automatic renewal.
- On Jan 3 in Milan, Exor, the Agnelli family investment company, and Ferrari founder's son Piero Ferrari agreed to renew a shareholder agreement governing Ferrari.
- Under the pact, Exor and Piero Ferrari have reciprocal rights of first offer on share transfers and will coordinate positions at Ferrari shareholder meetings.
- The existing 10-year pact has been extended until January 4, 2029 with an automatic three-year renewal unless terminated by the parties, and Exor owns around a 20% stake while Piero Ferrari holds a 10.6% stake.
- The pact consolidates control over more than 48% of voting power, as Exor and Piero Ferrari together hold more than 48% of voting rights.
- John Elkann serves as Exor CEO and Ferrari chairman, while Piero Ferrari remains vice chairman and a non-executive board member.
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Total News Sources6
Leaning Left0Leaning Right2Center4Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
C 67%
R 33%
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