Agnellis Sell €3 Billion Ferrari Stake, Remain Top Holder (3)

The Agnelli family sold a stake worth around €3 billion ($3.14 billion) in Ferrari NV, after the supercar maker’s value has risen more than 10 times since its initial public offering in the US.

Exor NV, the investment vehicle of the Agnelli clan, sold around seven million common shares in the luxury carmaker, according to a statement Thursday. Exor remains Ferrari’s largest shareholder, retaining roughly 30% of its voting rights.

The sale equals to about 4% of the outstanding capital and was executed via an accelerated bookbuilding offering to institutional investors. Goldman Sachs Group Inc. and JPMorgan Chase ...