Italy's Exor proposes conversion of preference, savings shares

MILAN Mon Feb 11, 2013 12:52pm EST

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MILAN Feb 11 (Reuters) - Italian holding company Exor SpA said on Monday it has decided to covert its preference and saving shares into ordinary shares to simplify its governance and capital structure.

The conversion rate is one to one for both categories of shares, it said in a statement.

The move needs to be approved by shareholders meetings to be held on March 19 and March 20, it said.

Exor, controlled by the Agnelli family, is the main shareholder in carmaker Fiat and tractor maker Fiat Industrial. (Reporting By Danilo Masoni; editing by Keith Weir)