Fiat Chrysler has announced plans to spin off Ferrari and list a 10 percent stake on the market as it seeks to raise funding.
Fiat Chrysler has announced plans to spin off Ferrari and list a 10 percent stake on the market as it seeks to raise funding. The spin-off is expected to be complete next year.
“As we move forward to secure the 2014-2018 Business Plan and work toward maximizing the value of our businesses to our shareholders, it is proper that we pursue separate paths for FCA and Ferrari,” FCA CEO Sergio Marchionne stated.
Related: Ferrari 458 Speciale Aperta Unveiled, Only 499 Units Will be Made
The remaining 90 percent of Ferrari will be spilt among the existing FCA shareholders, which includes the Agnelli family that founded Fiat.
Source: Automotive News
