Ferrari is set to separate from parent company Fiat Chrysler Automobiles, with a deal splitting Ferrari shares between the public and FCA shareholders after 45 years of Fiat ownership.
FCA Chief Executive Sergio Marchionne announced 10 per cent of Ferrari will be floated on the US stock exchange, with the remaining 90 per cent heading to existing Fiat Chrysler shareholders. The aim is ‘to support the long term success’ of the group while also ‘substantially strengthening FCA’s capital base’, he said in a statement.
Interestingly, John Elkann, FCA Chairman, stated that ‘coupled with the recent listing of FCA shares on the NYSE, the separation of Ferrari will preserve the cherished Italian heritage and unique position of the Ferrari business and allow FCA shareholders to continue to benefit from the substantial value inherent in this business’.
The news follows the departure of former chairman Luca Di Montezemolo, who was said to have clashed with Marchionne over the future of the Italian brand.
So what does the move mean for the Ferrari we know and love? Will the ‘new’ Ferrari have to compromise with increased shareholder pressure? Tell us your thoughts in the comments below…