Italy's Ifi sells Exor stake to pay off debts

Newswire

MILAN, March 31 (Reuters) - Italian holding group Ifi said on Friday it had sold a 29.3-percent stake in Exor Group, raising 104 million euros to pay off debt. Ifi said in a statement that Exor itself had bought the 3,418,242 shares with plans to cancel all of them. Both holding groups are controlled by the Agnelli family. Ifi, whose full name is Istituto Finanziario Industriale, controls Ifil , owner of 30 percent of automaker Fiat . Its stock was up 4.14 percent at 17.72 euros by ...

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