Exor launches €500 million share buyback as asset sales boost cash pile

Sept 22 (Reuters) - Exor, the investment arm of Italy's billionaire Agnelli family, announced a share buyback of €500 million ($572 million) on Tuesday.

The group said its deployable cash position would rise to around €4 billion, including proceeds from the sale of its interest in Iveco and the planned disposal of Welltec. Exor also reported: 

• A first-half net asset value of €157.9 per share, a decrease of 3.9% from a year earlier..

• A first-half gross asset value of €35.77 billion, down 3.7%.

• A loan-to-value (LTV) ratio of 4.7%

• Exor's holdings span sectors including autos, healthcare, media and sports through investments in Stellantis, Ferrari, Philips, Juventus and The Economist.

($1 = 0.8748 euros)

(Reporting by Jakob Van Calster; Editing by Jonathan Ananda)