Italy’s Exor To Invest $200M In Transport Start-up Via

Ventilator Maker’s Merger Spurs Wuery From US FTC OfficialItaly’s Exor said on Monday it had agreed to pay US$200 million for an 8.87% stake in US-based shared mobility company Via Transportation, in what would be the first step by the Agnelli family’s investment firm into the tech industry.

The price agreed values all of Via Transportation at about $2.25 billion.  “At this uniquely challenging moment, it is more important than ever to work creatively for a more sustainable future beyond these difficult days,” Exor Chairman and Chief Executive John Elkann said in a statement. 

Italians have been under nationwide lockdown for three weeks because of the coronavirus outbreak, which has killed more than 11,500 people in Italy, about a third of all global fatalities. 

The Exor-Via transaction, which is subject to antitrust approval, is expected to close in the second quarter, the company said. An Exor representative will join Via’s board. 

New investors Shell, Macquarie Capital and Mori Building also participated in the round, as did existing investors, Via said in a statement. 

“The financing round comes at a critical time as cities grapple with unique transportation needs during the COVID-19 crisis,” it said.

Full Content: Financial Times

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