moparnut
Administrator
Now that the Ferrari’s new stock has been sold (RACE: up 5.77% in its first day), the company’s major stakeholders are taking steps to keep their holdings safe from financial predators, according to Bloomberg. The financialreporting company wrote thatPiero Ferrari and Exor, the Agnelli family’s holding company, are using loyalty voting rights to prevent takeover attempts.
Ferrari, Enzo’s only surviving son, owns 10% of the company, while Exor owns 23%. However, under the special provisions giving special shares with extra voting rights to stakeholders who guarantee ownership for three years or more, Ferrari and Exor have 48.7% of the votes. (Similar provisions apply to Fiat Chrysler Automobiles). (...) →
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Ferrari, Enzo’s only surviving son, owns 10% of the company, while Exor owns 23%. However, under the special provisions giving special shares with extra voting rights to stakeholders who guarantee ownership for three years or more, Ferrari and Exor have 48.7% of the votes. (Similar provisions apply to Fiat Chrysler Automobiles). (...) →
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