The family Lambs keep betting on Philips. In fact, as reported Bloomberg and testified by an official document of the Securities and Exchange Commission (SEC) of the United States, the holding company of the Piedmontese dynasty Exor last June 21st increased its stake in the Dutch multinational founded in 1891 in Eindhoven, and which currently has its registered office in Amsterdam.
The largest shareholder
In detail, the company managed by John Elkann has increased its investment share in the Dutch company, which produces, among other things, medical devices. Currently the amount placed arrives up to a value of 3.92 billion euroswhich is equivalent to holding approximately 17.51% of company shares. A situation that does nothing but strengthen Exor’s position, given that already last August 16, it was the largest shareholder of the multinational with the 16.1%.
A story that began in August 2023, when Exor, which had already moved its registered office in 2016 in the Netherlandsis very interested in Philipswhich in the meantime has become a world leader in health technology sector, and decides to buy it 15%.
The investment, as reported The sun 24 hoursit had started thanks to the purchase of a series of shares on the market And to the agreement with a major financial institution. At the basis of this agreement was Exor’s appointment of a member to Philips’ supervisory board and the holding company’s commitment to remaining a minority investor long term. Not only these points, because, already in August 2023, the deal had been awarded to Exor power to increase their participation in Philips up to a maximum limit of 20% of ordinary working capital.
“Exor’s investment, its long-term perspective and growing focus on health and technology – he said at the time Royal Philips CEO Roy Jacobs – they fit well with our strategy and significant value creation potential. We welcome Exor as a long-term investor in Philips. It has a track record of success and a clear growth and development strategy in the health and technology sectors”.
