Exor Increases Royal Philips Stake to 18.7%

Dow Jones03-19

By Helena Smolak

Exor is further consolidating its position as Royal Philips' largest shareholder, increasing its stake to 18.7%, a regulatory filing from the U.S. securities and exchange commission showed.

The investment arm of Italy's Agnelli family raised its stake for the second time since acquiring an initial 15% interest in August 2023, with the right to increase its share holding to up to 20%. In June, Exor increased its stake in the medical imaging systems and toothbrush maker to 17.5%.

The move reflects the diversification of Exor, which is lead by Stellantis and Ferrari chairman John Elkann, away from its traditional automotive holdings. The holding company sold a portion of its Ferrari stake earlier this year.

Write to Helena Smolak at helena.smolak@wsj.com

(END) Dow Jones Newswires

March 19, 2025 08:04 ET (12:04 GMT)

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