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Exor, the Agnelli family firm, sold a 4% Ferrari stake for about €3 billion, causing shares to drop 7%.
Exor, the Agnelli family's holding company, sold a 4% stake in Ferrari for about €3 billion to diversify its portfolio and fund future acquisitions.
This sale reduces Exor's economic stake in Ferrari to 20% but maintains 30% voting rights.
Ferrari shares fell 7% post-announcement.
Ferrari also plans to repurchase up to 10% of the sold shares as part of a larger buyback program.
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Exor, la empresa familiar Agnelli, vendió una participación del 4% en Ferrari por cerca de 3.000 millones de euros, lo que hizo que las acciones bajaran un 7%.