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January 11, 2013

ArcelorMittal, controlled by the Mittal family, has raised $4 billion (€3 billion) through a recent stock offering to tackle its debt issues, prompting some to say the family is diluting its ownership of the world’s biggest steel-maker.

ArcelorMittal, controlled by the Mittal family, has raised $4 billion (€3 billion) through a recent stock offering to tackle its debt issues, prompting some to say the family is diluting its ownership of the world’s biggest steel-maker.

February 16, 2012

Italy’s economic woes are affecting the country’s family business sector, with two family-controlled auto companies struggling with financial problems. But while car designer Pininfarina will remain family-controlled, automaker De Tomaso has been sold.

Italy’s economic woes are affecting the country’s family business sector, with two family-controlled auto companies struggling with financial problems. But while car designer Pininfarina will remain family-controlled, automaker De Tomaso has been sold.

Pininfarina, which designed some of the world’s most famous cars including the Ferrari Testarossa and Maserati GranTurismo, has reached a debt restructuring deal with its creditors and will remain under the control of the Pininfarina family.

January 28, 2011

Fashion group Prada said it plans to list its shares in the Hong Kong Stock Exchange, as it looks to exploit its name in Asia where it sells a sizeable chunk of its brands.

Fashion group Prada said it plans to list its shares in the Hong Kong Stock Exchange, as it looks to exploit its name in Asia where it sells a sizeable chunk of its brands.

Analysts say that the initial public offer could value Prada at more than $8 billion. With demand for luxury goods on the rise in Asia, Prada has bargained that the timing of the listing would be ideal.

January 5, 2011

Pernod Ricard, the family-managed drinks company, hopes to become the world’s leading spirits manufacturer by expanding its US operations.

Pernod Ricard, the family-managed drinks company, hopes to become the world's leading spirits manufacturer by expanding its US operations.

The Marseilles-based company, the world's second-biggest spirits manufacturer by sales, believes the US has mature and profitable markets that are ripe for growth, according to a report in the Financial Times.

December 1, 2010

Porsche SE shareholders voted in favour of a €5 billion rights issue on 30 November that is designed to reduce the niche sports carmaker’s debt ahead of its merger with Volkswagen next year.

Porsche SE shareholders voted in favour of a €5 billion rights issue on 30 November that is designed to reduce the niche sports carmaker's debt ahead of its merger with Volkswagen next year.

Nearly 90% of the company's common shareholders voted in favour of the rights issue, which Porsche hopes will be completed by May 2011.

November 30, 2010

Porsche Automobile Holding SE, the family-controlled parent company of the carmaker Porsche, announced 29 November that it has returned to profit for the first three months of its fiscal year.

Porsche Automobile Holding SE, the family-controlled parent company of the carmaker Porsche, announced 29 November that it has returned to profit for the first three months of its fiscal year.

In a statement, Porsche said it has generated a net profit of €155 million for the three months from 1 August 2010, compared with a loss of €413 million for the same period in 2009. 

November 29, 2010

Porsche, the family-controlled car company, is hoping to gain approval for a €5 billion rights issue at its annual general meeting held 30 November.

Porsche, the family-controlled car company, is hoping to gain approval for a €5 billion rights issue at its annual general meeting held 30 November.

The rights issue is aimed at cutting the company's huge debt pile in order to smooth the way for the next stages of its merger with Volkswagen, the carmaker that is controlled by a rival branch of the founding Porsche family.

November 4, 2010

Ferrovial, the family-controlled infrastructure firm, announced 2 November that it has sold one of its airport holdings, Swissport International AG, to private equity firm PAI Partners for €654 million.

Ferrovial, the family-controlled infrastructure firm, announced 2 November that it has sold one of its airport holdings, Swissport International AG, to private equity firm PAI Partners for €654 million.

Swissport is the world's leading passenger and cargo handling company, and has an enterprise value of approximately €888 million, according to Ferrovial.

October 29, 2010

Ferrovial, the family-controlled infrastructure firm, announced it returned to profit in the third quarter thanks to a recovery in international construction and asset sales.

Ferrovial, the family-controlled infrastructure firm, announced it returned to profit in the third quarter thanks to a recovery in international construction and asset sales.

The Madrid-based company, which released its financial figures on 28 October, said it had made a net profit of €315 million in the first nine months of 2010, compared with a loss of €191 million during the same period in 2009. The company was hit hard by the dramatic fall in the Spanish construction sector during the financial crisis.

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