Exor Deals Alpitour to PE Funds

Exor SpA, the investment company of Italy’s Agnelli family, has agreed to sell its travel and tourism company unit Alpitour to private equity funds Wise SGR SpA and J. Hirsh & co., Reuters wrote Friday. Terms of the deal were not released.

(Reuters) – Exor SpA, the investment company of Italy’s Agnelli family, has agreed to sell its travel and tourism company unit Alpitour to private equity funds Wise SGR SpA and J. Hirsh & co., Exor said on Friday.

Exor, which is to buy 10 percent of the vehicle buying Alpitour, will book a capital gain of 140 million euros and the operation is expected to close in the second quarter of 2012, according to a statement.

The two funds are flanked by other financial investors including Network Capital Partners.

(Reporting by Danilo Masoni)