Fiat Chrysler approves spinoff of Ferrari




Fiat Chrysler Automobiles NV, the parent company of Ferrari NV, has approved the spinoff of Ferrari,

the

Wall Street Journal

reported.

Italy's Agnelli family controls Fiat Chrysler.


Fiat Chrysler sold 10% of Ferrari at an initial public offering in October. Fiat Chrysler plans to use the IPO proceeds to help finance production of its own vehicles and to revive its brands that are struggling, the


Journal


article said.


“Fiat Chrysler's remaining 80% stake in Ferrari will be transferred to shareholders in January,” the


Journal


article said. “The remaining 10% is owned by Piero Ferrari, son of the sports-car maker's founder, who will receive a payment of about $300 million from Ferrari at the time of the spinoff.” (Source:


Wall Street Journal


, Dec. 4, 2015.)

About the Author(s)

This is your 1st of 5 free articles this month.

Introductory offer: Unlimited digital access for $5/month
4
Articles Remaining
Already a subscriber? Please sign in here.

Related Articles

KEEP IT IN THE FAMILY

The Family Business newsletter. Weekly insight for family business leaders and owners to improve their family dynamics and their businesses.