“The challenge of the Lambs: the fifth generation enters”, headlines Il Sole 24 Ore this morning. Tidying up in the family. The Elkann-Andrea Agnelli-Nasi axis is growing in the Dutch company that controls Exor. The family council is born with annual meetings and the entry of young people. At the end of 2021, with multiple voting, control over the holding will rise to 80%.
On page 2: “The new equilibrium of the Agnelli house Fifth generation in the field”
Marigia Mangano writes: “(…) In recent months we have seen the entry of some young exponents of the dynasty on the board of the Dutch company and also in the lesser-known family council. An important and delicate step that also coincides with the modification of the equity balance where there is a strengthening of John Elkann and his cousins Andrea Agnelli and Alessandro Nasi in the capital (…). A non-deliberative family council was created alongside the board of directors of the BV. (…) . Among the new names appear Paolo Torlonia (class ’97), Santiago Marone Cinzano (class ’94 and first exponent of the sixth generation), Andrea Camerana (class ’70), Ilaria Ferrero (class ’65), and Julia Nasi (class ’91) who sit together with John Elkann himself, representative of Giovanni Agnelli’s heirs with Lapo and Ginevra, but also with Andrea Agnelli, the only representative of the Umberto and Alessandro Nasi branch. (…) Four years after the transfer of the family treasure chest to Amsterdam, the strengthening of the December company is recorded, the historic company that belongs to the heirs of Giovanni Agnelli and is controlled by John Elkann, number one of Exor. In fact, December increased control over the Dutch company up to 38% compared to 36% at the end of 2016. A significant stake that allows Elkann to have an important hold as a single shareholder on the Amsterdam vehicle which holds 53% of Exor and, in perspective, approximately 80% of the voting rights (see article on page). Stronger position in the shareholders’ register also for the branch of the descendants of Umberto Agnelli which with the latest acquisitions has become the second shareholder of Giovanni Agnelli Bv, overtaking Maria Sole and behind the December. For the heirs of Umberto Agnelli, represented by Andrea and his sister Anna, the package they own grew to 11.85%, while the Maria Sole branch decreased from 12.56% to the current 11.63. %. The weight of the Giovanni Nasi branch also grew, reaching a share of 8.79 percent (…)“.
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