Exor greets Italy and flies to the Netherlands

Exor leaves Italy. And it announced that the next shareholders should be, among others, Bill Gates and Jacob Rothschild that would have guaranteed an entry into the capital noting allowances that will come from the exercise of withdrawal rights by shareholders opposed the move. Exor will pay 31 euro per share.

The Agnelli finance company will emigrate therefore in the Netherlands, following what had already done its subsidiaries. Technically, this will become effective by the end of 2016 and will consist of a merger with Exor Holding N.V. wholly owned by the same company of the Agnelli. The extraordinary meeting of shareholders to approve the transaction is scheduled on 3 September.

The motivation is the need to harmonize the laws governing the group standardizing the holding company to subsidiaries. Exor also transfer the tax office in Netherlands. According to the fiscal point of view, the transfer anyway guarantees to zero taxation on capital gains, which are taxed in Italy on 5 percent.