Fiat-Chrysler to spin off Ferrari

  • 29-Oct-2014 01:12 EDT
13315_19530_ACT.jpg

Ferrari's mid-engine, rear-wheel-drive 458.

Fiat Chrysler Automobiles N.V. (FCA) on Oct. 29 announced its intention to sell its Ferrari S.p.A unit. The separation will be effected through a public offering of FCA's interest in Ferrari equal to 10% of Ferrari's outstanding shares and a distribution of FCA's remaining Ferrari shares to FCA shareholders. The transactions are to take place during 2015, and the company expects that the Ferrari shares will be listed in the United States and possibly a European exchange. Earlier this month Fiat completed the acquisition of Chrysler. "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 said in a statement. "The Board supports management's determination that this transaction represents FCA's best course of action to support the long-term success of the Group while at the same time substantially strengthening FCA's capital base."

Share
HTML for Linking to Page
Page URL
Grade
Rate It
5.00 Avg. Rating

Read More Articles On

2017-05-19
At Envisage, traditional coachbuilding skills blend with 3D printing and other digital tools to create concept/show vehicles and individual bespoke solutions.
2017-04-18
The MX-Z series of laser markers from Omron provide high quality, permanent identification with what the company claims is superior flexibility in terms of marking and connectivity with the ability to integrate easily to other systems or controls.
2017-04-17
Audi reveals details of the structural technology of its upcoming A8 as Audi and Porsche Chairmen pledge closer co-operation.
2017-07-31
Chrysler, Toyota, Faurecia and AP&T recognized with the 2017 Altair Enlighten Award for their efforts to reduce vehicle weight.

Related Items

Event
2018-04-10
Article
2017-02-11
Book
2009-02-16
Training / Education
2017-10-31
Training / Education
2017-11-01
Training / Education
2017-10-19
Standard
1987-05-01
Article
2017-02-09