In recent weeks, Exor, the Amsterdam-based investment company of the Italian Agnelli family, has significantly increased its stake in Philips. Exor now holds 17.5% of the shares, making it by far the largest shareholder in the medical technology company.
A spokesperson for Exor confirmed the move, describing it as a sign of confidence in Philips’ management and the long-term prospects of the sector in which the Dutch company operates. This sector has quickly become a key division in Exor’s investment portfolio, alongside the automotive industry (Stellantis, Ferrari).
Exor also holds interests in the French medical research center Institut Merieux and the Italian healthcare management company Lifenet. The investment firm believes that the growing demand for healthcare, combined with advancements in data analysis, makes the medical technology sector highly attractive.
Exor’s total investment in Philips now stands at €3.3 billion. The latest increase in its stake cost John Elkann’s company €481 million. Philips, which was not informed in advance of the stake increase, views it as a sign of the major shareholder’s confidence in the company’s strategic direction.