Exor shareholder meeting approves share conversion

MILAN, March 20 Wed Mar 20, 2013 6:30am EDT

MILAN, March 20 (Reuters) - Italian holding company Exor Spa said on Wednesday a shareholder meeting had approved the planned conversion of its preference and saving shares into ordinary shares.

The conversion rate, announced last month, is one to one for both categories of shares.

The move is meant to simplify the governance and capital structure of Exor, which is controlled by the Agnelli family and is the main shareholder in carmaker Fiat and tractor maker Fiat Industrial.

(Reporting by Silvia Aloisi, editing by Francesca Landini)

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