EXOR SA

EXOR SA

Previous company name
POTIN SA
Name change date

Company Overview
A holding company for subsidiaries engaged in the production of beverages and in the real estate business. It was formerly known as Potin SA and has its registered head office in the city of Paris in France.
As a holding entity, the company takes controlling and supervisory measures as well as provides technical and scientific management holding services to its operating companies and enterprises, including the local units. Core services include management consulting and open-end management investments, business support services, and other investment advisorsfinancial services.
Business Summary
The Company is a holding company which derives its revenues from various investment activities in the bottled and canned soft drinks sector & wines and brandy sector and it also has some real estate activities.
Description and history
Exor is a holding company that owns the famous Chateaux Margaux Vineyards, Paris real estate, plus 28.8% of Perrier directly and another 6.7% jointly with Societe Generale.

Jaques Vincent has been chairman of Exor S.A. since 1980. Jaques Vincent and Exor had humble beginnings-Exor began as a grocery concern, but, over the years, Vincent began diversifying the company and in 1983, he bought a 13% share in Perrier. Although this put him nominally in the big leagues of the French business establishment, he is considered a corporate maverick who doesn’t get on too well with business leaders in France.

Perrier considered Exor an ally against a possible foreign buyer. Over the years, Exor built up its share through outright purchases and through an investment vehicle, OMNICO (which is 49% owned by Exor and 51% owned by Societe Generale, the French bank). In 1989, by increasing Exor’s control to 35.5% of Perrier (prior to this increase, Exor had owned 23.7%), Vincent took control of the board and became its vice chairman. Gustave Leven’s poor handling of the benzene scandal finally enabled Vincent to push him out and become chairman of Perrier in June 1990.

On November 28, 1991, Ifint, the Agnelli investment company, made a FF1,320 per share friendly bid for 2/3 of Exor S.A. Partial bids are still legal under an August 1989 French law. The law also required that a bidder who holds between 33 1/3 and 50% of a company must make an offer for 2/3 of the company (however, the French finance ministry has plans to make full bids mandatory in the future). The Conseil des Bourses de Valeus (CBV, the agency regulating stock markets) cleared the 2/3 bid on December 5. It was unclear how large Ifint’s stake was at that point, but according to some sources, Ifint controlled about 35% of Exor when it made the bid, and was allied with the
Mentzelopoulos family who owned another 16%.

On December 12, 1991, the French stock exchange supervisory office, Conseil des Operations de Bourses (COB) began an investigation into investments in Perrier, but Ifint denied any intent to acquire Perrier shares. The COB investigation discovered that Exor had acted in concert with Societe Generale to acquire Perrier shares and that they controlled 35% as of May 1990. Under French takeover legislation, failure to disclose a stake exceeding 1/3 could result in loss of voting rights for two years or more.

The company was subsequently owned by one major investor and consequently is no longer listed.

Formerly known as Potin SA

Business Line
A holding company for subsidiaries engaged in the production of beverages and in the real estate business
Subsidiary

Advisor

IPO date

US SIC Code
2086
Company Address
1, Rue du Boccador

City province or state postal code
75008, PARIS
Phone: +33 144434300
Fax: +33 147233525
Country address: FRANCE
Website url: