EXOR N.V. (“the Company”) communicates its intention to restart and complete the share buyback program announced on 14 November 2018 (“the Program”).
The Program involved the repurchase of up to €300 million of ordinary shares, of which to date EXOR has acquired 4,878,332 ordinary shares for a total consideration of approximately €269 million, with the last purchase having been made on 9 August 2019.
Exor notes the joint announcement issued today by FCA and Groupe PSA and confirms its continued support of and commitment to the Combination. In particular, Exor strongly supports the steps taken by the Companies to maintain the economic value and balance within the original Combination Agreement while enhancing the strength of the capital structure of Stellantis at launch.
The EXOR Board of Directors’ meeting, chaired by John Elkann, approved today the 2020 Half-year Financial Report.
At 30 June 2020 EXOR’s NAV amounted to $20,955 million, a decrease of -$5,200 million (-19.9%) compared to $26,155 million at 31 December 2019. At 30 June 2020 the NAV per share amounted to $88.75, a decrease of $22.02 per share (-19.9%) compared to $110.77 at 31 December 2019. This compares to a decrease of -6.6% for the MSCI World Index.
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Exor N.V. (“Exor”), one of Europe’s leading family-controlled holding companies, announces that it has reached an agreement with Covéa Coopérations S.A. (“Covéa”) under which Covéa will invest a total amount of €1.5 billion with Exor and in special purpose reinsurance vehicles managed by PartnerRe.
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