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Exor expects $13 billion for careful acquisitions after PartnerRe sale

By  |  February 10, 2020

Investment group Exor (EXOR.MI) will have around $13 billion in cash provided it closes a deal to sell its reinsurance unit PartnerRe and it would spend most of that on acquisitions, a source close to the matter told Reuters.

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    The holding group of Italy’s Agnelli family, which also controls Fiat Chrysler (FCHA.MI), said on Sunday it was in exclusive talks to sell PartnerRe to France’s Covea.

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    The deal could be worth around $9 billion in cash and drove shares in Exor up by more than 5% on Monday to an all-time high.

    Full Content: Reuters

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