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Italy's Exor To Reduce Small Investments In Portfolio

MILAN -(Dow Jones)- Italy's Exor SpA (EXO.MI), the investment vehicle of the Agnelli family which founded Fiat SpA (F.MI), Wednesday said it wants to reduce the number of small investments in its portfolio and concentrate on the large holdings. It didn't identify any of the investments it might sell. Some of its smaller investments include stakes in television producer Banijay Group and paper maker Sequana SA (SEQ.FR). Its biggest investments include controlling stakes in Fiat and sister company Fiat Industrial SpA (FI.MI). "We want to reduce the number of small investments in order to concentrate on a few larger ones," said an advance copy of the preface to Exor's annual report by Chief Executive John Elkann. Exor will publish the report April 18 ahead of the May 29 annual shareholders' meeting in Turin, the northwestern industrial city in Italy where Exor and the Agnelli family are based. -By Gilles Castonguay, Dow Jones Newswires; +39 02 5821-9908; gilles.castonguay@dowjones.com; @GRCastonguay

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