Agnelli arm's new name

IFINT, the investment arm of Italy's biggest private sector company, Agnelli Group, is to change its name to Exor Group at a meeting in Luxembourg on March 2.

Exor is the holding company for virtually all of Agnelli Group's non-Italian assets. It holds stakes worth US$100 million in a range of Asian holding companies, including Guoco Group.

Its total market capitalisation is in excess of $2.2 billion, according to Galeazzo Scarampi, president of what is now IFINT-Asia.

Agnelli Group has investments in Italy ranging from newspapers to construction firms and, through control of a large part of Fiat, the Italian carmaker, it indirectly controls the Ferrari sports car marque.