Ferrari's parent company acquires $2.8 billion stake in beleaguered Philips

12:00:00 AM, Tuesday 15th of August 2023 | in business

Exor NV, the investment arm of the Agnelli family, has acquired a 15% stake in healthcare technology group Philips for $2.8 billion. Agnelli family, the owner of Ferrari and Juventus, is now the top investor in the company. This deal comes as a significant boost for Philips, which is currently recovering from a major product recall that severely reduced its share price.