Exor and Israel's 7-Industries raised their stake in Danish robot maker Welltec to 95%, a spokesman for the holding company of Italy's Agnelli family said on Friday, Trend reports with reference to Reuters.
Exor and investment group 7-Industries bought all the remaining shares of Welltec founder Jørgen Hallundbæk.
Financial details of the transaction were not disclosed.
The news was initially reported by MF daily newspaper.
Exor and 7-Industries had bought an initial 13% stake in Welltec five years ago for 103 million euros ($125 million), the spokesman added.
Revenue at privately-owned Welltec, which makes robots to perform remote pipe maintenance and cleaning operations in oil and gas wells, fell around 15% in 2020 from $257 million a year earlier.
Its core profits last year were down to $88 million from $101 million in 2019.