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FB Roundup: Exor, Ermenegildo Zegna, L Brands

July 23, 2021

Agnelli family’s Exor linked to Armani, Zegna family lists luxury group via $3.2 billion SPAC, Les Wexner distances from L Brands with $2.2 billion share sale.

Agnelli family’s Exor linked to Armani

The Agnelli family that made its fortune in the Italian auto industry is expanding its interests in luxury goods with apparent overtures to Armani, only months after acquiring a quarter-stake in Christian Louboutin.

Agnelli scion John Elkann (pictured left), 45, the billionaire chairman and chief executive of Exor, the family-controlled holding company, has been in talks with fashion designer Giorgio Armani, Reuters reported.

Hyundai looks to plan B for succession planning after failed share sale

January 13, 2015

A $1.25 billion share sale at a subsidiary of South Korean family-owned conglomerate Hyundai has flopped, potentially stalling succession between the second and third generations.

A $1.25 billion (€1.06 billion) share sale at a subsidiary of South Korean family-owned conglomerate Hyundai has flopped, potentially stalling succession between the second and third generations.

Despite a discount on the share price of up to 12%, the Chung family failed to reduce its 43% in Hyundai Glovis, the group’s logistics subsidiary.

Bill Ford awards himself a salary - the first in five years

August 9, 2010

Bill Ford, executive chairman of family-controlled carmaker Ford, last week sold 3.4 million common shares and stock options in the company, worth around $28 million.

He also received his first wage in five years, according to an email to Ford employees reported in the Wall Street Journal. Ford (pictured) pledged he would forgo his salary until the company was once again in a strong financial situation.

How to manage divorce

June 9, 2010

Fourteen EU countries agreed to a new pact last week that allows spouses of different nationalities to choose the applicable rules to their own divorce, write Mark Green and Stephen McClure.

This follows recent high-profile cases including the expensive separation settlement of Italy's prime minister Silvio Berlusconi and the daily drama of Frank & Jamie McCourt – owners of Major League Baseball's premiere franchise Los Angeles Dodgers.

Lachlan Murdoch sells remaining shares in family business

December 10, 2009

Lachlan Murdoch, the eldest son of media tycoon Rupert Murdoch, sold his remaining non-voting shares in News Corp this week.

Lachlan Murdoch, the eldest son of media tycoon Rupert Murdoch, sold his remaining non-voting shares in News Corp this week.

According to a filing made on Tuesday with the Securities and Exchange Commission in the US, Lachlan's trust sold 2.3 million Class A News Corp shares for $28.3 million. This sale follows a similar one last week that saw Lachlan (pictured) sell another 2.3 million shares.