Motor tycoons Agnelli family buys 15% stake in Philips

Exor, the investment firm, has bought a minority stake in Dutch medical technology company Philips, which is still working through a costly product recall, as part of a plan to expand in health care.

Philips rose 5.3 per cent in early Amsterdam trading, taking gains this year of 45 per cent.

Exor, which is owned by Italy’s Agnelli family, bought a 15 per cent stake in Philips through on-market share purchases and an agreement with ...