The Agnelli family’s Exor NV bought a minority stake in Dutch medical technology company Koninklijke Philips NV.
Exor, a holding company, bought a 15% stake in Philips through on-market share purchases and an agreement with a major financial institution, according to a statement on Monday. The deal is valued around €2.6 billion ($2.8 billion), a Philips spokesperson said.
Exor also controls sports carmaker Ferrari NV and Juventus Football Club SpA, and owns stakes in Stellantis NV, formed by the merger of Fiat Chrysler with PSA Group, as well as The Economist Group.
“The path of change taken by Philips in recent years has created a company that combines two areas – health care and technology – to which we are committed,” said John Elkann, the billionaire family’s leader and Exor’s CEO, in the joint statement.
