Fiat Chrysler to spin off Ferrari

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Published: Wednesday 29th October 2014 by The News Editor

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Fiat Chrysler has announced plans to spin off sports car maker Ferrari into a separate company.

The company said in a statement that spinning off Ferrari was part of a plan to raise capital to support the future growth of newly merged Fiat Chrysler Automobiles.

Fiat Chrysler chief executive Sergio Marchionne said in a statement that it was “proper that we pursue separate paths for FCA and Ferrari” after the completion of the merger of Chrysler and Fiat with a listing on the New York Stock Exchange earlier this month.

Published: Wednesday 29th October 2014 by The News Editor

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