MILAN (Reuters) – Italy’s Agnelli family has a 10.1% stake in New York-listed information services provider Clarivate through its investment arm Exor, the two companies said on Monday, adding that Exor could increase its stake up to 17.5%.
The announcement is the latest step in Exor’s investment campaign, propelled two years ago by the $9 billion it raised from the sale of its reinsurer PartnerRe to France’s Covea. It is using the cash for M&A and share buybacks.
“Exor becomes a long-term investor in Clarivate, endorsing the strategic direction set out by the company’s management and board,” the companies said.
(Reporting by Giulio Piovaccari, editing by Gavin Jones)
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