EXOR to become the largest shareholder of The Economist Group with 43.4% of share capital
As previously announced on August 12 2015, EXOR closed the acquisition of 6.3 million (or 27.8%) ordinary shares and of 1.26 million (or 100%) B special shares in The Economist Group from Pearson Group plc for a total consideration of £287 million (€392 million).
Following this transaction and the completion of a separate share buy-back announced by The Economist of Pearson’s remaining ordinary shares, EXOR’s shareholding in The Economist Group will increase from 4.7% to 43.4%, making it the Group’s single largest shareholder.
EXOR (Bloomberg: EXO IM, Reuters: EXOR.MI) is one of Europe’s leading investment companies and is controlled by the Agnelli Family. With a NAV (Net Asset Value) of €12 billion, EXOR focuses on global businesses primarily based in Europe and in the U.S. and actively participates in building its companies for the long term. For further information: www.exor.com.