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Agnelli & Ferrari Ink 10-Year Shareholder Pact
4 Jan
Summary
- Exor and Piero Ferrari renewed their shareholder agreement.
- The deal extends their coordination on Ferrari shareholder matters.
- They hold over 48% of voting rights in Ferrari.
Exor, the Agnelli family's investment company, and Piero Ferrari, son of the founder, have committed to a renewed shareholder agreement for the renowned Italian sportscar manufacturer. This significant pact extends their collaborative efforts in managing the company's future direction.
The agreement, originally set to expire, has been formally extended through January 4, 2029. It includes an automatic renewal clause for an additional three years, unless either party opts out. This ensures a stable and coordinated approach to decisions affecting Ferrari.
This renewed collaboration solidifies the partnership between Exor, which holds a 20% stake, and Piero Ferrari, the second-largest shareholder with 10.6%. Combined, they command over 48% of Ferrari's voting rights, reinforcing their influence over the company's strategic direction.
