Exor announces an investment of 103,3 million euros to acquire 13% of Welltec, global leader in robotic technologies for the oil and gas industry. Welltec – which offers reliable and efficient solutions for the maintenance, cleaning and repair of wells – is based in Denmark. The operation, reports a press release, '"is part of Exor's investment strategy which also includes the acquisition of minority stakes in companies with high growth potential, with the aim of supporting talented entrepreneurs in realizing their plans of development".
At the same time “represents for Exor an interesting opportunity to invest in the oil sector, at a time characterized by convenient valuations and structural changes, which are bringing out new opportunities”. The transaction will be carried out by acquiring a part of the share capital of the company held by 7-Industries Lux S.a'.rl, a company indirectly held by a member of the Board of Directors of Exor, Ruthi Wertheimer. Upon completion of the acquisition, Exor and the 7-Industries Group will each hold 13% of Welltec's capital as long-term shareholders.
