Exor is "analyzing" the possibility of selling its stake in Cushman & Wakefield Exor, the third largest group in the world in the real estate sector, valued at around two billion dollars. This was specified this morning in a note by the financial company of the Agnelli family, explaining that "with regard to the press articles on a possible sale of the stake in Cushman & Wakefield - the note reads - Exor clarifies that the analysis of the possible alternatives concerning the companies of its portfolio – including divestitures, mergers, acquisitions and any other financial and strategic options – is an integral part of its normal business as an investment firm. There are currently no transactions to report, nor is there any assurance that the ongoing investigation will result in a transaction involving Cushman & Wakefield."
According to the Wall Street Journal, however, Exor would have authorized the management to engage Goldman Sachs and Morgan Stanley to look for a buyer who is not listed and is not a direct competitor. Exor bought 67,5% of Cushman eight years ago for 565,4 million euros and later increased the stake to 81%.
In the morning, Exor's share on the Stock Exchange gained more than one percentage point, to 40 euros, achieving one of the best increases in the Ftse Mib.
