A couple days ago, it was reported that Fiat SpA CEO Sergio Marchionne is unable to make his mind up on whether he sees Fiat retaking over its 90% stake in Ferrari. It is now reported that Fiat is considering listing part of Ferrari to raise cash in order to increase its stake in Chrysler Group LLC, according to a report by Il Corriere della Sera said on Sunday.
The report said that Fiat is aggressively looking to find liquidity to allow it to fund its purchase of 51 percent of Chrysler and listing Ferrari is a possibility.
A Fiat spokesman denied the report. “There are no plans for any Ferrari listing,” he said.
Fiat currently owns 20 percent of Chrysler and plans to increase its holding to 35 percent once it meets its restructuring goals. Corriere reported that Fiat would keep a 51 percent stake in Ferrari, which is worth $3.1 billion.
– By: Zain Haq