Fiat Chrysler Automobiles (FCA) has announced they will receive €2.25 billion from Ferrari before the spin-off planned for 2015.
Fiat Chrysler Automobiles (FCA) has announced they will receive €2.25 billion from Ferrari before the spinoff planned for 2015.
Towards the end of last month we found out FCA will spinoff Ferrari but prior to this move the prancing horse company will inject no less than €2.25 billion in the newly established Fiat Chrysler Automobiles conglomerate. This transaction along with the aforementioned spinoff are part of a grand plan to raise capital which also includes a massive €2.5 billion convertible bond issue.
The spinoff will take place in the second or third quarter of 2015 when 10 percent of Ferrari’s shares will be listed, while 80 percent will be going to Fiat Chrysler's London-based investors. The remaining 10 percent belong to Ferrari vice chairman Piero Ferrari.
The money earned from all these transaction will be going into FCA's €49 billion growth plan directed to the development of new products and hopefully some of them will have the Lancia badge.