New Ferrari Pact Allows Piero Ferrari to Sell 5% Stake

New Shareholder Pact Eases Stake Sale Rules for Ferrari Family

A new shareholder agreement for Ferrari NV allows Piero Ferrari to sell up to a 5% stake without breaking the pact. The agreement also grants him the discretion to exit the pact entirely, signaling increased flexibility for the founding family.

Details of the New Shareholder Agreement

This development follows a sale of a 4% stake by Exor, the Agnelli family's firm, early in 2025. The new terms, reported by Italian newspaper Il Sole 24 Ore, clarify the long-term ownership strategy between Exor, the largest shareholder, and Piero Ferrari.

Implications for Ferrari's Ownership and Market

This flexibility could signal future shifts in Ferrari's ownership structure. The potential for stake sales may introduce more stock liquidity but could also fuel market speculation about the long-term commitment of core shareholders. Investors will monitor any moves that could alter control.

Conclusion: A Shift in Shareholder Dynamics

The revised agreement provides significant new options for Piero Ferrari. While no sales are announced, the market will now factor in this potential for change when evaluating Ferrari's stock and governance.

FAQ

Q: How much of his stake can Piero Ferrari sell without voiding the pact?
A: He can sell up to 5% of his stake.

Q: Who is the other party in the shareholder agreement with Piero Ferrari?
A: The agreement is with Exor, the investment firm of the Agnelli family and Ferrari's largest shareholder.

Source: Investing.com