Fiat To Spin Off 10% Of Ferrari To Raise Additional Cash

Fiat Chrysler Automobiles plans to spin off the Ferrari super-car brand, underpinning efforts to raise about $4.7 billion as the Italian-American carmaker counters rising debt. The stock soared 19 percent.

FCA will list 10 percent of Ferrari in the U.S. and possibly Europe and plans to complete the deal next year, the company said today in a statement. The sale will raise about $1.15 billion, according to an estimate from Mediobanca.

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skytop - 10/30/2014 1:50:41 AM

+1 Boost

I will give them $500. for that red Ferrari.