It lasted just over an hour the last assembly of listed companies of the galaxy Agnelli in Turin. The members of Exor – the subsidiary holding to 53% by Giovanni Agnelli & amp; C. – approved by a majority, when straordianaria, the merger with the Dutch Exor Nv and the consequent transfer of the registered office in Amsterdam, where there are already those of Fiat Chrysler, CNH Industrial and Ferrari. The same partnership Giovanni Agnelli & amp; C. then in turn the extraordinary general meeting held where the members – all the heirs of the founder of Fiat – approved the merger with the Dutch GA B.V. (That at the completion of the operation will be called Giovanni Agnelli BV) and the change of venue.
The two mergers, the Exor plan and what dell’accomandita, should go to the port later this year “subject to the satisfaction or waiver of the conditions precedent. ” Among the latter there for Exor one which limits to 400 million euro disbursement of the company to buy back the shares of minority shareholders in the event of exercise of the right of withdrawal; the risk is low for now, given that Exor riacquistebbe titles at 31.2348 EUR each (price fixed by law) against 37.27 of Friday’s listing; otherwise he entitled to withdraw any shareholder who has not voted in favor of the merger in the assembly yesterday. Exor and limited partnerships will also have their tax domicile in the Netherlands, unlike the three operating subsidiaries (Fca, CNHI and Ferrari) who have in London. The new statute of the Dutch Exor provides that after five years on the maintenance of the securities in the portfolio stable shareholders will see their voting rights multiplied by five, and ten after ten years.
At the sidelines, President of Exor John Elkann confirmed the ongoing contacts for the future of Magneti Marelli, a company controlled car components from Fca: “There are ongoing discussions related to the strengthening of Magneti Marelli,” he said. There is no mention, at least explicitly sales; potential partners have more than one, he added Elkann. Among them it is also the Korean Samsung, whose vice president Lee Jae Yong was in Turin and attended the meeting in the capacity of shareholder Exor. “We talked about Marelli and even more, for example, they have important interests in the insurance field and we Partner Re” said Elkann, by referring in the latter case “a business relationship.”
as for the dieselgate with Fca the target of accusations by the German authorities, the European Commission “assist” the Italian and German authorities to “facilitate a common view on the respect or lack of respect of the law” as regards the ‘any infringement of vehicles Fca rules on pollutant emissions “. This was confirmed yesterday by Cernobbio Community spokesman in charge of Industry Lucia Caudet. On Friday, the EU executive has received a formal request from the German Transport Ministry to that effect. The service involves a work of “mediation”, specified Caudet. Yesterday John Elkann reiterated in question on the subject, that “Delrio minister was extremely clear”; the head of the department of Infrastructure and Transport said on a couple of occasions that the checks carried out on Fca models have left a glimpse of any problem. Italy did not, however, yet made public the results of tests on diesel engines that our government, like others in Europe, announced a year ago at the dieselgate Volkswagen outbreak; London and Berlin have published their documents in April, one in Paris arrived on 29 July.
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