Exor Exits SGS With $2.6B Stock Sale To Groupe Bruxelles

Law360, New York (June 3, 2013, 12:49 PM EDT) -- European family-owned investment firm Exor SpA will sell its 15 percent stake in Swiss inspection company SGS SA to Belgian investor Groupe Bruxelles Lambert for €2 billion ($2.6 billion), both companies said Monday.

Exor, the investment arm of the Agnelli family empire, will unload its 1.17 million shares of SGS to Albert Frere's GBL for 2,128 Swiss Francs ($2,253) per share, slightly below SGS's closing stock price on the SIX Swiss Exchange on Friday. GBL will fund the deal largely with cash on hand.

SGS is a...
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