Exor : Giano Holding Increases Stake in GEDI to 92.03%

By Kim Richters

Exor NV said Tuesday that its holding company Giano Holding SpA now has 92.03% of share capital in GEDI Gruppo Editoriale SpA.

Exor, the Agnelli family's holding company, said it increased its stake in the Italian publisher after a mandatory tender offer on all the ordinary shares of GEDI ended.

The offer of 0.46 euros ($0.52) a share will be paid on Monday to shareholders and the requirement for GEDI's delisting was met, Exor said.

Exor in December had agreed to buy a controlling stake in the company--which publishes Italian dailies La Repubblica and La Stampa--from CIR SpA - Compagnie Industriali Riunite.

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