Fiat Parting Ways with Ferrari After 45 Years
Following the departure of longtime CEO Luca Di Montezemolo, Fiat-Chrysler has announced that it will spin off Ferrari with a public offering. That means that Fiat’s 45 year controlling stake in Ferrari ends in 2015. With that, 10 percent of initial Ferrari shares will be on the market. The other 90 percent of shares will be distributed between FCA’s (Fiat Chrysler Automobiles) own shareholders, and the Agnelli family, which already controls 30 percent of FCA’s shares. In 2011, the Financial Times speculated that Ferrari could be worth up to $10 Billion, so we expect that number to only go up when the brand officially goes public. RELATED: See Photos of the Ferrari LaFerrari Supercar
According to John Elkann, Chairman of Fiat-Chrysler and a member of the Agnelli controlling family, this new step for Ferrari will “preserve the cherished Italian heritage and unique position of the Ferrari business.”
Most of the details will be ironed out over the next year, but Ferrari’s IPO will be available in the U.S. and possibly a European exchange beginning in 2015.
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