MILAN, Sept 14 Reuters Exor has around 2 billion euros 2.14 billion in cash left for investments after recent deals, which include the purchase of a 15 stake in Philips, the CFO of Agnelli family39;s investment company said on Thursday.
Exor39;s investments cover a broad range of industries, including manufacturing, sport, media, fashion, healthcare and technology. Last month, the group announced it had spent 2.6 billion euros to become Philips39;s top investor.
At the end of 2022, Exor had 6.5 billion available for investments, including 5 billion euros for direct acquisitions, following the sale of reinsurer PartnerRe.
Exor said on Wednesday it was launching a 1 billion euro share buyback and that it had made other smaller investments during the first half of this year, including in U.S.based shared mobility company Via Transportation for an additional 50 million and in its Lingotto Investment Management company for a total of 400 million euros.
After these deals, Exor has around 1 billion euros for acquisitions and another 1 billion euros for investments through its vehicles Ventures and Lingotto, Chief Financial Officer Guido de Boer told analysts, presenting firsthalf results.
De Boer said Exor39;s future acquisitions would still focus on healthcare, luxury and tech, in line with guidance provided last year.
Those sectors are still where we aim to invest. Obviously, if we see an attractive opportunity somewhere else we will be nimble and free to do that, he…