Shares of Exor NV (BMV: EXO1N) crashed 10% last week after the proposed sale of the reinsurance business collapsed. Italy’s biggest company saw its stock price lose more than 50% of the value since the COVID-19 outbreak hit northern Italy. Fundamental analysis: Exor facing financial difficulties Exor, the holding company of Italy’s Agnelli family, is struggling to raise cash after the sale of the “PartnerRE” reinsurance business to French insurer Covea fell through. Two companies previously agreed on a $9 billion deal, before Covea asked Exor to renegotiate the terms of the deal. This proposal was swiftly rejected by John
The post Exor stock price crashes 10% on the collapse of $9 billion reinsurance sale appeared first on Invezz.
