Agnelli Family Raises Stake in Economist as Pearson Exits

Italy’s billionaire Agnelli family emerged as the largest investor in the Economist after Pearson Plc sold its half in the 172-year-old magazine cherished by the political and business elite for 469 million-pounds ($731 million).

Exor SpA, through which the family controls carmaker Fiat Chrysler, agreed to pay 287 million pounds, boosting its share in the The Economist Group to 43.4 percent from 4.7 percent, the companies said in statements on Wednesday. The sale also raises the stake held by the Rothschild family to 26 percent from 21 percent, while Pearson’s remaining holding will be repurchased by the Economist for 182 million pounds.