Exor N.V. (“Exor” or the “Company”) announces the launch of a tender offer to purchase ordinary shares with a nominal value of EUR 0.01 each in the share capital of Exor N.V. (each an “Ordinary Share”, and together the “Ordinary Shares”), executed via a reverse “Dutch auction”, for an aggregate consideration up to (and including) €1 billion to Qualifying Shareholders (as defined below) (the “Tender Offer”).
The Tender Offer will be carried out as part of the €1 billion share buyback program announced by Exor in February 2025. Exor’s Board of Directors believes that the current value of Exor provides an attractive opportunity to invest in its own companies through buying back shares. The Tender Offer will allow Exor to acquire shares in a short time frame and undertake an effective and efficient share buyback program.
The Tender Offer will be conducted within the framework of the authorization of the Board of Directors to repurchase shares granted by the Exor annual general meeting of shareholders held on 28 May 2024 (the “AGM authorization”). Exor plans to start the cancellation process of the purchased Ordinary Shares after the settlement of the Tender Offer.
