Agnelli Family’s Exor Can Raise Philips Stake to 22% Under Updated Agreement
The updated agreement keeps governance unchanged while giving Exor room to add to its 15.1% holding as Philips backs its 2026-2028 plan.
- On Tuesday, Exor, the investment arm of Italy's Agnelli family, updated its agreement with Royal Philips, allowing the firm to increase its stake to up to 22% of issued share capital.
- Since acquiring an initial 15.1% stake in August 2023, Exor increased its holding to 19% in 2025. Shares in the Dutch health technology company have gained nearly 25% in value since Exor became largest shareholder.
- Governance arrangements remain unchanged, including Exor's right to nominate one member to the Philips Supervisory Board. Exor CEO John Elkann said the agreement reflects 'our continued commitment to Philips as its largest shareholder.'
- Royal Philips CEO Roy Jakobs said the updated agreement reflects support for the company's 2026–2028 plan and 'value creation potential.' The Supervisory Board values Exor's 'constructive engagement' as it oversees strategic direction.
- Headquartered in the Netherlands, Philips generated 2025 sales of approximately EUR 18 billion and employs approximately 63,700 people with operations in more than 100 countries.
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Philips and Exor agreed to update their long-term cooperation agreement. (ANSA)
Philips has extended its long-term partnership with Exor, controlled by the Agnelli family, and will allow the investor to increase its participation to up to 22%. Exclusive material for subscribers. To have full access, access the link of the material and register.
Philips Deepens Ties to Italy’s Agnellis With New Share Pact
Royal Philips deepened ties with its biggest shareholder, Italy’s Agnelli family, in a deal allowing the Fiat-founding clan to raise its stake in the Dutch medical technology company to as high as 22%.
Agnelli family’s Exor can raise Philips stake to 22% under updated agreement
Aug 11 (Reuters) - Philips' largest shareholder Exor, the investment arm of Italy's Agnelli family, has extended its agreement with the health technology firm, giving it the flexibility to increase its stake to up to 22%, the companies said on Tuesda...
Cambridge Times
Exor and Philips Extend Long-term Relationship Agreement
August 11, 2026
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