Fiat Group companies Fiat Chrysler Automobiles (FCA) has announced plans to sell the supercar brand Ferrari, in an attempt to generate revenue on the order of 48 billion € (38 billion) for the implementation of its anti-crisis plan. A total of 10% of the company will be posted on the stock market, while the remaining 90% will go to existing shareholders FCA.
Fiat Group sells Ferrari in 2015
Sale Ferrari will help support long-term success Fiat Group, as it focuses on the production of its more mass brands such as Fiat Group, Jeep and Alfa Romeo. John Elkann, chairman at FCA, said: “The division of Ferrari preserve cherished Italian heritage and unique position in the business and will allow Ferrari FCA shareholders continue to benefit in this business.” This news comes just a few weeks after, FCA went to float freely on the New -Yorkskoy Stock Exchange for the first time since 1998.
General Director FCA Sergio Marchionne Fiat Group, said: “As we move forward you need to back up the business plan 2014-2018 and work towards maximizing the value of our businesses to our shareholders, it is right that we share the FCA Fiat Group and Ferrari.”