Fiat Chrysler is selling Ferrari

Primalzer

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Sep 14, 2006
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Road & Track said:
Fiat Chrysler Automobiles has just announced its plan to spin off Ferrari. The move will put 10 percent of Ferrari on the U.S. and European stock exchanges next year, with the remainder going to current Fiat Chrysler stockholders.

In a press release, Fiat Chrysler’s board of directors cite the move as part of “a capital plan appropriate to support the Group’s long-term success.” In the same statement, Fiat Chrysler CEO Sergio Marchionne said, “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."

Fiat, which acquired Chrysler earlier this year, has owned Ferrari since 1969.

Since 1991, Ferrari was led by now-former CEO Luca Cordero di Montezemolo, who left in a huff due to disagreement with Fiat Chrysler’s Marchionne over Ferrari’s future. On his way out, Montezemolo volleyed criticism at the notion of expanding Ferrari’s production base, calling it “the end of an era,” and telling Bloomberg that “Ferrari is now American.” Montezemolo’s resignation left Marchionne as Ferrari’s CEO.

Interesting...
 

Primalzer

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Sep 14, 2006
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Youmad bruh. I'd argue that Ferraris are as good as they've ever been.

Id argue that they are the most marketable they've ever been, but not the greatest. They have one maybe 2 great cars, but a few cars that are just meh. Whereas throughout the 60's, 70's, even the 80's, and 90's were when Ferrari was truly a great sportscar manufacturer
 

Mike K

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Apr 11, 2008
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Id argue that they are the most marketable they've ever been, but not the greatest. They have one maybe 2 great cars, but a few cars that are just meh. Whereas throughout the 60's, 70's, even the 80's, and 90's were when Ferrari was truly a great sportscar manufacturer

We're talking about the same company that made the 308 in the 70s and 80's right?

I don't know enough about them or their heritage to really make an argument either way but as a person I lust over Ferraris more now than I did before and clearly one man's preference is completely scientific. Ergo, case closed? :rofl:
 

Spivitz

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Primalzer

TCG Elite Member
Sep 14, 2006
25,259
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We're talking about the same company that made the 308 in the 70s and 80's right?

I don't know enough about them or their heritage to really make an argument either way but as a person I lust over Ferraris more now than I did before and clearly one man's preference is completely scientific. Ergo, case closed? :rofl:

IMO, the 308 is the best looking Ferrari of the past 30 years. I know it's dogshit slow, it'll bankrupt me if given the chance, but it's just achingly pretty and so well proportioned. It wasn't until the 355, that Ferrari made a great looking car. You may argue the about the F40, but that is more functionally brilliant than achingly beautiful. The F40, IMO, was the last great Ferrari, before all the techno wizardry kind of watered then down. I still feel the 355 and 550/575 are very good, but obviously not great like the F40.
 

Dragonkat

Car Life: It's what we do...24/7
Aug 17, 2012
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Italian financial newspaper Il Sole 24 Ore reports that Fiat Chrysler Automobiles CEO Sergio Marchionne said the initial public offering of Ferrari will most likely take place between the second and third quarters of next year.

FCA will offer about 10% of the shares in the ultra-premium carmaker to help raise cash for FCA’s ambitious investment program. The remaining shares will be distributed among FCA shareholders.

Marchionne also told reporters that following that fundraising, the free float of FCA could increase to 20% of the total shares. Free float refers to shares available for public trading as opposed to those held by controlling interests, such as Exor, or company officers like Marchionne, who owns about 1% of FCA.

Marchionne plans a road show to attract investors next month.
 
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