Significant events

Significant Events in the third quarter of 2013 and subsequently

Investment in Almacantar
On July 5, 2013 EXOR S.A. made a payment of £19.2 million (€22.3 million) to Almacantar to settle the remaining amount due on the capital increase subscribed to in full in 2011 which had not yet been fully paid.
In order to ensure additional financial resources for new investments, on July 11, 2013 EXOR S.A. subscribed to a new capital increase for a total of £50 million (€57.9 million), with two payments made for a total of £23.8 million (€27.9 million).
Following the capital increase, EXOR S.A. holds approximately 38.29% of Almacantar S.A. share capital.

Fiat Industrial and CNH Global merger
The deed for the merger of Fiat Industrial S.p.A. with and into CNH Industrial N.V. and the deed for the merger of CNH Global N.V. with and into CNH Industrial N.V. were executed on September 27 and 28, 2013, respectively, and the integration of these two companies was completed on September 29, 2013. At closing, CNH Industrial issued 1,348,867,772 common shares allotted to Fiat Industrial and CNH Global shareholders on the basis of the established exchange ratios. In particular, Fiat Industrial shareholders received one CNH Industrial common share for each Fiat Industrial ordinary share held and CNH Global shareholders received 3,828 CNH Industrial common shares for each CNH Global common share held. CNH Industrial also issued special voting shares (non-tradable) allotted to eligible Fiat Industrial and CNH Global shareholders who elected to also receive special voting shares in connection with the closing of the merger. On the basis of such requests, CNH Industrial issued overall 474,474,276 special voting shares.
On September 30, 2013 CNH Industrial N.V. common shares began trading on the New York Stock Exchange and the Mercato Telematico Azionario managed by Borsa Italiana S.p.A.

EXOR with its 366,927,900 Fiat Industrial ordinary shares received 366,927,900 CNH Industrial common shares and the same number of special voting shares. As of today’s date, EXOR directly thus holds, respectively, a 27.20% stake and 40.25% of the voting rights.

EXOR bond issue 2013-2020
On November 12, 2013 EXOR issued non-convertible bonds for €200 million maturing November 12, 2020 through a private placement to institutional investors.
The bonds were issued at a price of 99.053% and pay a fixed annual coupon of 3.375%. They are listed on the Regulated Market of the Luxembourg Stock Exchange and have been assigned a credit rating of BBB+ by Standard & Poor’s. Net proceeds will be used for EXOR’s general corporate purposes and in order to extend the average maturity of its debt.

EXOR repurchased a notional amount of €50 million of its outstanding 5.375% bonds (due 2017) and in aggregate, EXOR holds a notional amount of such bonds equal to ca. €57 million.

 

Commercial Register No.64236277 Legal notes | Credits