A PYMNTS Company

Italy’s Exor To Invest $200M In Transport Start-up Via

By  |  March 31, 2020
Italy Law

Ventilator Maker’s Merger Spurs Wuery From US FTC OfficialItaly’s Exor said on Monday it had agreed to pay US$200 million for an 8.87% stake in US-based shared mobility company Via Transportation, in what would be the first step by the Agnelli family’s investment firm into the tech industry.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The price agreed values all of Via Transportation at about $2.25 billion.  “At this uniquely challenging moment, it is more important than ever to work creatively for a more sustainable future beyond these difficult days,” Exor Chairman and Chief Executive John Elkann said in a statement. 

    Italians have been under nationwide lockdown for three weeks because of the coronavirus outbreak, which has killed more than 11,500 people in Italy, about a third of all global fatalities. 

    The Exor-Via transaction, which is subject to antitrust approval, is expected to close in the second quarter, the company said. An Exor representative will join Via’s board. 

    New investors Shell, Macquarie Capital and Mori Building also participated in the round, as did existing investors, Via said in a statement. 

    “The financing round comes at a critical time as cities grapple with unique transportation needs during the COVID-19 crisis,” it said.

    Full Content: Financial Times

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.