What to do when you have to spend 10,000 million euros?It is the question that is around John Elkann's head, Gianni Agnelli's grandson and a young patriarch of the Italian clan.Since he was appointed with only 21 years in the board of directors of Fiat, John Elkann has climbed all the steps of the family group.
Today is at the head of Exor, considered the investment arm of the Agnelli.The Holding, which is based in the Netherlands, has a galaxy of participations in several sectors, in addition to being Stellantis reference shareholder (the merger between Fiat and Peugeot).In 2015, in an investment diversification strategy, Exor took the partner re reinsurer for more than 7,000 million.Now he has just closed his sale to Covéa for more than 9,000.A juicy surplus value that gives exor coffers huge financial resources that you can use for other operations such as shares and debt reduction.
He has rumored with a possible interest in Fashion firm Giorgio Armani (the legendary designer is 87 years old and has no offspring).Elkann expressed his willingness to expand in the luxury sector, a sector that according to him is usually quite immune to economic cycles.Synergies with Ferrari or Louboutin, which are part of his offer, are already possible.Health and technology are other options.
Exor came this year to get the best recommendations of the Stoxx600 index.In its investment committee there are unique characters, such as Suzanne Heywood, who lived ten years in a sailboat or Noam Ohana, which has a past in the Israel army.
John Elkann's headaches are not missing.From the fights between branches of the family or the economic losses of Juventus with accusations of fraud.But Exor partners, since 2009, between rise in shares and dividends, have seen their yields grow 1,470%, with an average annually.The Empire Strikes Back.
Una red de participaciones desde el automóvil hasta los zapatos