Breaking: The Big Ferrari Sell Off.
FCA or Fiat Chrysler Automobiles are selling off Ferrari. Here’s your chance to own part of the iconic brand.
Keep an eye out as it could be as early as this week. Ferrari will be listed on the New York Stock Exchange.
And there’s more: Only 10% of its shares will actually be made available to the public, 80% goes to existing Fiat-Chrysler shareholders. Piero Ferrari keeps his 10%.
The deal is expected to be worth a relatively small amount of approximately $500m.
The spin-off is part of a capital-raising plan for FCA to fund its own ambitious 5 year plan. From now until 2018, Ferrari is planning to release a new model to the market every year, but, keeping production below 7,000 units.