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Italy's Exor raises GEDI stake above 60% ahead of mandatory offer

(Reuters) - The Agnelli family's Exor (EXOR.MI) has signed agreements that will raise its stake in Italian publisher GEDI (GEDI.MI) above 60% ahead of a mandatory tender offer for the remaining shares. Exor in December agreed to buy a 43.78% controlling stake in GEDI, which publishes daily newspapers La Repubblica and La Stampa, from CIR at 0.46 euros per share, for 102.4 million euros ($110 million). Exor said on Thursday that as well as closing the share purchase from CIR through its Giano Holding vehicle, it had bought another 5.06% stake from the Perrone family's Mercurio. It also agreed to buy a further 6.07% stake from SIA BLU and Giacaranda Caracciolo in a transaction which is due to close before the launch of the mandatory tender offer.

First found on: uk.reuters.com And then on: 1 other references