The holding Exorrun by the family Elkann as a direct continuation of the commitment Lambs in the automotive world, he is about to invest a large sum of money acquired thanks to the latest financial transactions. The sale of Partner Re to the French of Covea it will guarantee 10 billion euros cheap, a tasty little treasure to be diverted to old and new businesses.
Part of this money is already clear on its allocation: 500 million will go to remunerate the shareholders; another 500 will be used to reduce the debt (from 4.5 to 4 billion), according to reports from Il Sole 24 Ore. There will therefore be 9 billion left to support the development plans of Ferrari, Stellantis, CNH Industrial and Iveco, as well as financing new investment opportunities. Traditional activities will therefore coexist with the entry into new or almost new sectors, but capable of bringing benefits to the entire portfolio of existing companies. Eg, any investments in the world of luxury will connect to the activities in Maranello.
For new investments, Exor has also added fresh forces to its management team. The last entry was that of the French Benoît Ribadeau Dumas, a fifty-year-old manager who will identify investment targets for the near future, especially as regards the energy transition. His experience in CGG, a multinational company that deals with geological exploration and sustainable resources, and in ZodiacAerospace, an aerospace group that merged with Safran in 2018, once again give an interesting reading of the possible steps forward of Exor, with a lot of technology, possibly ‘clean’, to be made available to its car brands.
Both Stellantis and Ferrari, in particular, are about to embark on the journey to the electric. While for some brands the ticket will likely be one-way to battery-powered mobility, Maranello will stay afloat between thermal and electric: for this reason it will be necessary to have a plan capable of making the company green without renouncing the founding principles of its business. That is to create emotions for those who observe and even better drive supercars with the Prancing Horse.
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