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Fortune

Prarthana Prakash

Philips gets $2.84B boost from billionaire family that controls Ferrari and Juventus

Philips Exor Ferrari Juventus Christian Louboutin Giovanni Agnelli John Elkann Luxury Fortune

A picture of John Elkann talking (Credit: Stefano Guidi—Getty Images)

The Italian holding company behind Ferrari and Christian Louboutin is buying a 15% stake in technology giant Philips, which continues to reel from a costly product recall in 2021.

Exor, the billionaire Agnelli family's holding company, plans to help Philips grow its healthcare operations following the deal valued at $2.84 billion.

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