Exor, the holding company of Italy's Agnelli family, raised about 3 billion euros ($3.14 billion) after selling a roughly 4% stake in Ferrari, it said on Thursday. In announcing the disposal late on Wednesday,

Exor, the holding company of Italy's Agnelli family, said on Wednesday it had kicked off the sale of a stake worth approximately 4% in Ferrari from which it expects to raise around 3 billion euros ($3.

(Bloomberg) -- Exor NV is offering a 4% stake in luxury carmaker Ferrari NV. Exor, an investment vehicle for Italy’s Agnelli family, is looking to sell seven million shares, according to a statement Wednesday. The transaction could raise €3.38 billion ($3.55 billion), based on Wednesday’s closing price.

Exor, the holding company of the Agnelli group, will sell approximately 7 million ordinary shares held in Ferrari, equal to approximately 4% of the Maranello-based company's ordinary shares, through an offer aimed at institutional investors,