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    EXO   NL0012059018

EXOR N.V.

(EXO)
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Exor to invest 80 million euros to become top investor in Chinese luxury group Shang Xia

12/09/2020 | 12:43pm EDT
Exor logo is seen on investor day held by holding group in Turin

MILAN (Reuters) - Exor, the holding company of Italy's Agnelli family, said on Wednesday it would invest around 80 million euros ($97 million) through a reserved capital increase to become the largest shareholder of Chinese luxury company Shang Xia.

French luxury group Hermes, which founded Shang Xia in 2010 with Chinese designer Jiang Qiong Er, will remain "as an important shareholder" alongside Exor and Jiang Qiong Er, Exor, Hermes and Shang Xia said in a joint statement.

The deal, which is expected to be completed by the end of this year, will result in a non-recurring profit of around 80 million euros for Hermes, they added.

Exor is also the top investor in luxury carmaker Ferrari.

($1 = 0.8283 euros)

(Reporting by Giulio Piovaccari; editing by Agnieszka Flak)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EXOR N.V. 1.11% 70.92 Delayed Quote.5.92%
FERRARI N.V. 0.69% 217.325 Delayed Quote.-5.96%
HERMÈS INTERNATIONAL 2.53% 1317.5 Real-time Quote.46.09%
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Analyst Recommendations on EXOR N.V.
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Financials
Sales 2021 1 972 M 2 315 M 2 315 M
Net income 2021 1 761 M 2 067 M 2 067 M
Net Debt 2021 1 886 M 2 214 M 2 214 M
P/E ratio 2021 9,44x
Yield 2021 0,65%
Capitalization 16 519 M 19 386 M 19 388 M
EV / Sales 2021 9,33x
Capi. / Sales 2022 9,47x
Nbr of Employees 263 284
Free-Float 42,9%
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Mean consensus BUY
Number of Analysts 7
Last Close Price 70,14 €
Average target price 91,27 €
Spread / Average Target 30,1%
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Managers and Directors
John Jacob Philip Elkann Chairman & Chief Executive Officer
Enrico Vellano Chief Financial Officer
Laurence Debroux Independent Non-Executive Director
Marc Jan Bolland Senior Independent Non-Executive Director
Joseph Yong Bum Bae Independent Non-Executive Director
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