Reportedly approves a spin off of Ferrari; offering a 10% stake of the firm to the market with the rest going to shareholders
- Plans to complete spin off next year, and will list Ferrari shares in the US and Europe.
- Reminder earlier today Ferrari reported Q3 segment performance:Revenues were €662 million (+24%), with 1,610 street cars shipped (+8%). EBIT was €89 million, including €15 million in compensation costs related to the resignation of the former chairman. Net of this item, EBIT was up €16 million with improved sales mix driven by the LaFerrari.
what he said before :
* In 2013:
06/27 Fiat Chairman: Reiterates no plans to IPO Ferrari 05/30 Fiat Chairman: no plans to spin off Ferrari
05/08 Ferrari CEO: no plan to spin off Ferrari from Fiat
- In 2012: Fiat CEO Marchionne: No longer have enough money to buy the remaining 41.5% stake in Chrysler, but may IPO Ferrari in order to raise money to do so.