Agnellis' Exor to Leave Milan Bourse for Amsterdam After Half a Century

Exor, the holding company of the Agnelli family, is moving to Euronext Amsterdam after more than 50 years.

In order to align the company's legal structure with its listing venue, the Exor board agreed to the shift. The merger of Chrysler and PSA Group has resulted in large investments in two Italian car makers.

Exor has been listed in Milan for almost 50 years. The start of trading on the Amsterdam exchange is expected to take place by mid-August.

Agnellis is going to pay $866 million for a stake inInstitut Merieux.

Exor has diversified its investments in recent years beyond the car industry to tech and luxury, and it has a controlling interest in a football club. The company had a net asset value of $32 billion as of last December.

Last March, Exor announced a plan to buy back up to 250 million euro's worth of ordinary shares.