Description
EXOR Group In 1957 IFI acquired control of Istituto Commerciale Laniero Italiano, which conducted activities in the financial field, particularly in the textile and wool sector.
In 1963 it extended its operations to the banking system and changed its name to Istituto Bancario Italiano Laniero. Three years later, having spun off the banking business to Banca Subalpina, the company became Istituto Finanziario Italiano Laniero (IFIL), playing a parallel role to that of IFI and conducting similar investment management activities.
IFI gained holdings in numerous firms over the decades, including Unicem and 3M, many of which have since been divested. IFI listed preference shares on the Borsa Italiana in 1968. A reorganisation of the Agnelli family's holdings in 2008 led to the merger of IFI and IFIL to create Exor, the new name being taken from the French company (then the majority owner of Perrier water and the Château Margaux estate) which it acquired in 1991.
The family firm Giovanni Agnelli & C. owns 51,39% of the share capital, the remainder is free float.Exor is ranked 24th richest company according to the 2013 Fortune Global 500 list.
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| WebSite: | http://www.exor.com/ |