Exor announces 10% stake in data provider Clarivate, can rise to 17.5%

CLARIVATE

04/03/2024 13:32

MILAN, March 4 (Reuters) - Italy's Agnelli family has a
10.1% stake in New York-listed information services provider
Clarivate  16A.F  through its investment arm Exor  EXOR.AS , the
two companies said on Monday, adding that Exor could increase
its stake up to 17.5%.
    The announcement is the latest step in Exor's investment
campaign, propelled two years ago by the $9 billion it raised
from the sale of its reinsurer PartnerRe to France's Covea. It
is using the cash for M&A and share buybacks. 
    "Exor becomes a long-term investor in Clarivate, endorsing
the strategic direction set out by the company's management and
board," the companies said.
    
    

                                                                
                          

 (Reporting by Giulio Piovaccari, editing by Gavin Jones)
 ((giulio.piovaccari@thomsonreuters.com))