Italy’s Agnelli family, through its investment arm Exor, has acquired a 10.1% stake in Clarivate, a New York-listed information services provider.

The companies announced on Monday that Exor has the option to increase its stake in Clarivate to 17.5%.

Exor’s investment in Clarivate marks the latest development in its investment strategy, initiated two years ago following the $9 billion proceeds from the sale of its reinsurer PartnerRe to France’s Covea.

Utilizing the cash for mergers and acquisitions (M&A) and share buybacks, Exor aims to strengthen its portfolio and maximize shareholder value.

Source: Reuters