The Current Situation of Agnelli Family (1 Viewer)

ReBeL

The Jackal
Jan 14, 2005
22,871
#1
I just read this article about the intention of selling one of the dearest resorts for the late Gianni Agnelli...

I don't intend to start another thread about Juve and the scandal.

I want to hear from anybody who have any information about the economic situation of Agnellis as a whole, which will have an effect for sure on Juve...

Here is the article that I've read today:

-----------------------------------------------------------------------------

Fiat sells jet-set extra - a ski resort



IT WOULD be difficult to find a more fabled symbol of the glamour of the once powerful Agnelli family, the founders of the Fiat empire, than the jet-set ski resort of Sestriere in the Alps.

Gianni Agnelli, the late Fiat patriarch, loved nothing better than to be taken by helicopter from his Turin villa straight to the slopes he owned. He would be dropped at the top of the mountain, already wearing his skis, so that he could ski straight down without the trouble of taking a lift.

But three years after his death, the company has announced that it is selling Sestriere, complete with its state-of-the-art ski lifts and fashionable hotels. Other assets dear to the heart of the Agnelli family may follow.



Sestriere, built by Fiat in 1934, was one of the first ski resorts in Italy. It was developed on mountain meadows and woods acquired by Gianni’s grandfather, Giovanni, the 19th century founder of Fiat.

But Fiat, which after a shaky period of near bankruptcy is returning to profitability by re-focusing on its core automobile business, has decided that Sestriere is surplus to requirements. A contract selling it for a reported €30 million (£21 million) is to be finalised at the end of the month.

The Agnellis have taken a step that would have been unimaginable even a few years ago,” said Corriere della Sera. Andrea Maria Colarelli, the mayor of Sestriere, said that it marked “the end of an era”.

The family denies it may sell other treasured possessions, such as Juventus FC, currently at the heart of a footballing scandal, or La Stampa, the daily newspaper based in Turin. But the business world is abuzz with reports that Fiat is about to sell its stake in Mediobanca in return for the bank’s 34 per cent stake in Ferrari.

Under Sergio Marchionne, who took over as chief executive after the death of Gianni’s brother, Umberto, in May 2004, the company has shown signs of recovery. Fiat Auto has seen its share of the Italian car market rebound to more than 30 per cent, and has great hopes for the launch of the new Alfa Spider later this month.

-----------------------------------------------------------------------------

AGNELLI: A DISPARATE PORTFOLIO

-Newspapers La Stampa and Corriere della Sera
-Juventus FC
-Fiat, Alfa Romeo, Ferrari, Maserati, Lancia, Iveco and Autobianchi — all vehicle manufacturers
-CNH Global, the agricultural equipment company behind New Holland and Case
-Magnetti Marelli, the vehicle components manufacturer
-The Agnelli family also own Dino Island off the Calabrian coast
-They endowed the Lingotto Gallery in Turin, which includes works by Canaletto, Canova and Matisse
-Fiat sponsors the Jamaican bobsled team


From Richard Owen in Rome
timesonline.co.uk
 

Buy on AliExpress.com

swag

L'autista
Administrator
Sep 23, 2003
83,368
#2
All companies in times of economic hardship go through these sell-offs of non-core businesses. And the Agnelli ties to Juve have been at their weakest in decades. So I don't read anything into this from Juve's perspective.
 

swag

L'autista
Administrator
Sep 23, 2003
83,368
#4
Mr. Gol said:
That doesn't mean that they own the team, so why is it listed as a possession :confused:
Gianni Agnelli probably bought his salami from Guiseppe the butcher down at the local market, but Guiseppe didn't get a mention either. :(

:D
 
OP

ReBeL

The Jackal
Jan 14, 2005
22,871
  • Thread Starter
  • Thread Starter #5
    I still wait for the money injected in Juve...:eyebrows:

    ----------------------------------------------------------------------

    Agnelli Family Buys Cushman Stake for $563 Million


    Dec. 19 (Bloomberg) -- The Agnellis, Italy's richest family, bought a majority stake in Cushman & Wakefield Inc., the world's second-largest commercial real estate brokerage, for $563 million.

    Agnelli's Turin-based Ifil Group will buy a 67.5 percent stake from Rockefeller Group International Inc., a unit of Tokyo- based Mitsubishi Estate Co. Ltd., Cushman and Ifil said today. Employees of New York-based Cushman will retain up to 32.5 percent, with the option of selling another 8.1 percent to Ifil.

    "Having been weighted toward Europe, this investment adds great value to our portfolio,'' Ifil Vice Chairman John Elkann, grandson of the late Giovanni Agnelli, said at a New York news conference held at the Rainbow Room in Rockefeller Center.

    Ifil, the largest shareholder in Fiat SpA, Italy's biggest carmaker, and Italian soccer club Juventus, wants to expand abroad and is focusing on real estate and financial services. Cushman will get a new long-term shareholder as it seeks to extend in Europe and Asia. The company wants to increase revenue generated outside the U.S. to 50 percent from 38 percent by 2011, Cushman Chief Executive Officer Bruce Mosler said.

    Commercial real estate values have exploded in the U.S., where CB Richard Ellis Group Inc., the world's largest commercial real estate broker, in October agreed to buy rival Trammell Crow Co. for $1.9 billion to more than double its property management business. The Bloomberg REIT Office Property Index has risen 39 percent this year and sales of Manhattan office buildings broke the $1,000-per-square-foot barrier for the first time this year.

    `New Partner'

    "We're ready to position Cushman & Wakefield to take full advantage of our opportunities, with a new partner, a partner who is in complete alignment with Cushman's global business strategy,'' Mosler said. The goal is "to enhance our stature as the global firm of choice.''

    He said he expects the real estate industry in Europe and Asia to consolidate as it is in the U.S. and that Agnelli may help Cushman acquire new partners there. The brokerage has about 800 employees in China, including offices in Hong Kong, Shanghai and Beijing, and 700 people in India, where it represents 40 percent of commercial tenants who pay for real estate services, Mosler said.

    In the U.S., Cushman plans to expand its mortgage brokerage business. The company has served 75 percent of Fortune 500 businesses, including AT&T Inc., Citigroup Inc. and MetLife, Inc.

    Following the transaction, Cushman's board will include Carlo Sant'Albano, Alessandro Potesta, Michael Bartolotta and Pierre Martinet from Ifil and Mosler, John Cushman and John Santora from Cushman.

    `A Good Move'

    Ifil shares trade on the Italian stock exchange, where the company has a market value of $8.9 billion. It is 69 percent owned by Giovanni Agnelli & C., a privately owned holding company. Ifil's other automobile brands include Alfa Romeo and Ferrari.

    "The deal is part of a plan to diversify investments'' at Ifil, said Alessandro Frigerio, who helps manage the equivalent of about $64 million at Abis Sgr in Milan. ``It looks like a good move.''

    Cushman had $69.3 billion of sales and leasing transactions worldwide last year, placing it second behind Los Angeles-based CB Richard Ellis, which had $150.4 billion, according to National Real Estate Investor magazine.

    With 197 offices and 11,500 employees, Cushman reported a 21 percent increase in revenue last year to $1.23 billion. It forecast revenue for 2006 of $1.4 billion.

    Ifil is an investment company with assets of about $11.7 billion and also has stakes in companies including Gruppo Banca Leonardo SpA and Sequana Capital.

    `Stars Aligned'

    Rockefeller Group, which owned Cushman & Wakefield for 30 years, is a developer and real estate investor that once held a stake in New York's Rockefeller Center. The company sold its brokerage holding to concentrate on development, said CEO Jonathan Green.

    "The stars aligned,'' he said. "Our interest is in development.''

    Ifil was advised by Perella Weinberg Partners LP and Ernst & Young LLP. JPMorgan Chase & Co. advised Rockefeller Group. Cushman was advised by Citigroup Inc. The deal is expected to close at the end of January 2007.

    In an October presentation to investors, CB Richard Ellis said Cushman had the second-largest market share with 3.4 percent of the $24 billion U.S. commercial real estate services industry. CB Richard Ellis claimed 7.9 percent of what it called a ``fragmented'' industry, with small agencies handling 58 percent of industry revenue. When combined with Trammell Crow, CB Richard Ellis will have 10.5 percent of U.S. revenue, according to the presentation.

    Bloomberg
     

    C4ISR

    Senior Member
    Dec 18, 2005
    2,362
    #9
    Interesting news. FIAT is on the up now also. They certainly have money to spend. So should Juve, considering the tens of milllions made in players sales. Id be surprised if they put 10 mil of their own money into Juve's transfer budget this summer.
     

    Il Re

    -- 10 --
    Jan 13, 2005
    4,031
    #12
    does anyone know anything about giovanni's son edoardo, apparently he converted to islam but died, but some people think he was assassinated by the "zionists" but its stated that he comitted suicide by jumping off a bridge
     
    OP

    ReBeL

    The Jackal
    Jan 14, 2005
    22,871
  • Thread Starter
  • Thread Starter #13
    does anyone know anything about giovanni's son edoardo, apparently he converted to islam but died, but some people think he was assassinated by the "zionists" but its stated that he comitted suicide by jumping off a bridge
    I read about him long time ago...

    Can you read Arabic??
     
    OP

    ReBeL

    The Jackal
    Jan 14, 2005
    22,871
  • Thread Starter
  • Thread Starter #15
    i can read the quran (only read it but not know much of the meaning without translation) and not normal modern arabic
    Then, it is not worth it to look for that very long article about that topic which was posted on Kooora.com since decades...

    Sorry...
     
    OP

    ReBeL

    The Jackal
    Jan 14, 2005
    22,871
  • Thread Starter
  • Thread Starter #18
    The mother of John And Lapo wants to make troubles:

    ------------------------------------------------------------------------

    Agnelli Heir Files Lawsuit Against Dad's Consiglieri


    MILAN -- In life, Gianni Agnelli became one of Europe's most illustrious businessmen, celebrated for his management of Italian car and industrial giant SpA and for his lifestyle as a bon vivant.

    Now, one of his heirs is dragging a delicate family matter -- the extent of private wealth accumulated by Mr. Agnelli -- into the public eye with a lawsuit that risks tainting the reputation of one of Europe's most distinguished dynasties.

    In the suit filed yesterday in Turin, a copy of which was viewed by The Wall Street Journal, , 52 years old and Mr. Agnelli's only surviving child, alleges that three of her father's most trusted consiglieri have never given a proper accounting of her father's estate. In the suit, she claims that there may still be significant sums of money scattered around the world in different bank accounts that must be distributed to heirs.

    The lawsuit, which threatens to shatter the unity that has characterized the Agnelli family, highlights how Europe's age-old model of family capitalism is coming under pressure as power passes to new generations. As these empires have grown, keeping a balance between the families' private matters and their businesses -- now often including publicly traded companies -- has become a challenge. Moreover, patriarchs like Mr. Agnelli often depended on tight but informal political and business relationships that younger generations are hard-pressed to maintain.

    The Agnelli family has controlled a vast swath of the Italian economy for more than a century. Anchored around Fiat, which makes Ferrari, Alfa Romeo and Fiat cars, trucks and tractors, the family empire also includes newspapers, a tour operator, the Juventus F.C. soccer team, a chunk of the New York real estate firm Cushman & Wakefield, and stakes in some of Europe's largest companies. Giovanni Agnelli & C., the company in which much of the family's wealth is kept, is estimated to be valued at more than €3 billion, or $4.04 billion.

    The suit, which comes after other less public spats over inheritance, could have implications beyond the nearly 200 Agnelli heirs, affecting the network of public companies that the family controls, such as SpA and Fiat.

    Mrs. Agnelli de Pahlen's suit is directed at three figures: , who serves as the family's chief legal adviser; , who is still among the top executives in the Agnelli family holding company; and , who manages private assets for the family from Switzerland.

    Mr. Grande Stevens's Turin law office said last night that he wasn't available to comment. Mr. Gabetti declined to comment but noted through an assistant that in 2004, after some negotiating, Mrs. Agnelli de Pahlen publicly declared herself to be satisfied with how her father's wealth was distributed. Mr. Maron was traveling, and an associate at his Zurich office was unable to reach him. An Ifil spokesman said that neither Mr. Gabetti nor Mr. Grande Stevens had seen the suit.

    While Mr. Agnelli, still referred to in Italy simply as the avvocato, or "lawyer," was alive, these three men were among his most trusted associates. After Mr. Agnelli's death in 2003, they continued to manage his estate.

    But Mr. Grande Stevens, 79, and Mr. Gabetti, 82, also hold important posts in the publicly traded companies controlled by the Agnelli family. Mr. Grande Stevens is secretary of Giovanni Agnelli & C. and a board member of the family holding companies Ifi SpA and Ifil. He is also secretary of the Fiat board. Mr. Gabetti, meantime, is president of Giovanni Agnelli & C. and chairman of Ifi and Ifil. Holding such important roles in public companies and family affairs, says Maurizia Iachino, a Milan-based consultant on corporate governance, is common for close associates of top European entrepreneurs. But it also blurs the distinction between private and shareholder interests. "There's a confusion of roles here," she says.

    Mrs. Agnelli de Pahlen's suit also risks creating tension among the upper ranks of the family business. Her first-born son, John Elkann, 31, is being groomed to take the reins. He holds the title of deputy chairman at Fiat. At Ifil, he is deputy chairman, second in command after Mr. Gabetti. Mr. Elkann declined to comment.

    In the 1960s and 1970s, Gianni Agnelli, grandson of the Fiat founder of the same name, became one of the best-known tycoons in Europe, keeping the company of the Kennedys in the U.S. and the upper echelons of the business and political elite in Italy. He married a noblewoman named Marella Caracciolo di Castagneto, and he and his brother Umberto served in the Italian senate. His sister Susanna once served as foreign minister.

    But when Mr. Agnelli died of cancer at 82, his empire was in tatters. Fiat's car business was hemorrhaging money. The family began selling off cherished holdings to raise cash, including stakes in Club Med, the French winery Chateau Margaux and La Rinascente SpA department-store chain. Fiat was temporarily salvaged after the Italian government rallied banks to extend a €3 billion loan, but it's only recently, under new management, that it has engineered a strong comeback.

    The issue of the inheritance of Mr. Agnelli's personal fortune was even more complicated. Mr. Agnelli's first born, Edoardo, led a troubled life and is believed to have jumped to his death from a highway overpass near Turin in 2000. As a result, Mrs. Agnelli de Pahlen and her mother became Mr. Agnelli's de facto heirs. The bulk of his personal holdings were divided between them, including his art collection, two yachts, palazzos in Turin and Rome and an expansive Corsican estate.

    Mrs. Agnelli de Pahlen, who has eight children from two marriages, began splitting her time between Geneva, Paris, New York and Turin. She has published a book of poetry and occupies herself with painting and various microfinance projects. But Mrs. Agnelli soon began to have doubts about the management of her father's estate and entered a period of protracted negotiations with the estate's managers and other family members. Then, in 2004, she issued a statement in which she declared that she was satisfied with how the wealth had been distributed.

    Now, she is raising her concerns again. In the suit, Mrs. Agnelli de Pahlen doesn't accuse the defendants of seeking personal gain. But she claims that they rebuffed repeated requests to properly disclose the estate's total value and where the holdings are located.

    For example, Mrs. Agnelli de Pahlen alleges that several months after her father's death, Mr. Maron showed her a list of foreign trusts, stakes in private-equity funds and other holdings. But the amounts she was shown weren't exact, she charges, nor was she given assurances that they represented all of her father's accounts. She also claims that after her father's death, she received €109 million from an account held by Morgan Stanley. But she charges that she was never told who ordered the payment or whether it was the full amount in the account.

    WallStreet Journal
     

    Zé Tahir

    JhoolayLaaaal!
    Moderator
    Dec 10, 2004
    29,281
    #20
    does anyone know anything about giovanni's son edoardo, apparently he converted to islam but died, but some people think he was assassinated by the "zionists" but its stated that he comitted suicide by jumping off a bridge
    Damn, I had no idea. Thanks for pointing this out :thumbs:
     

    Users Who Are Viewing This Thread (Users: 0, Guests: 1)