New York – April 3, 2020 – Cooley advised Exor, one of Europe’s leading family-controlled holding companies, on its agreement to invest $200 million in Via Transportation’s Series E preferred stock financing round. Partner Stephane Levy led the Cooley team advising Exor on the transaction, which is expected to close in Q2.
Under the terms of the agreement, Noam Ohana – who leads Exor Seeds, Exor’s early-stage investment arm – will join the board of Via and become a director of the company. Exor will share its skills and knowledge from building global companies for more than 100 years to take Via’s already successful business to the next stage of development. In particular, the new investment will extend the proven power of Via’s platform from the B2C to the B2B environment, changing the way people move around the cities where Via is present.
“At this uniquely challenging moment, it is more important than ever to work creatively for a more sustainable future beyond these difficult days,” John Elkann, chairman and CEO of Exor, said in a news release. “Our investment in Via underlines Exor’s continuing commitment to building great companies for a better tomorrow.”
With a net asset value of approximately $26 billion as of the end of 2019, Exor’s portfolio is principally made up of companies in which Exor is a leading shareholder, including PartnerRe, Ferrari, Fiat Chrysler Automobiles, CNH Industrial, Juventus FC and The Economist Group.
First launched in New York City in 2013, Via’s technology is now deployed globally, including in Europe as ViaVan. Today Via and ViaVan partner with more than 100 public transportation agencies, private transit operators, taxi fleets, private companies, school districts and universities, integrating with transportation infrastructure to power cutting-edge mobility.
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