Exor N.V. announced a share buyback program of up to €500 million alongside its half-year report for 2026, with the buyback to be executed on the market until its next financial results in March 2027. The company said NAV per share declined 3.9% in the first half of 2026, compared with an 11.8% increase in the MSCI World Index. Portfolio simplification continued: Iveco Group completed the sale of its defence business to Leonardo, Tata Motors launched its tender offer for Iveco Group with closing expected in November 2026, and Exor completed divestments in GEDI, Lifenet and NUO and agreed to sell its stake in Welltec. The Welltec deal will return a MOIC of approximately 2.4x and bring Exor's deployable cash to around €4 billion. CEO John Elkann said the reshaping of the portfolio has continued and that the shares trade at a substantial discount to NAV that does not reflect the company's assessment of the intrinsic value of its portfolio.
Iveco Group N.V.
Leonardo SpA
NUUO Inc.
Lifenet Insurance Company
Exor N.V.
