Report: Fiat to put Ferrari up for sale, could most likely be the end of an era

Some new, crazy, and shocking info comes in through AutomotiveNews, who recently learned Fiat-Chrysler Automobiles will be putting a solid portion of Ferrari up for sale through a public offering. This is one of the many recent stirrups for the Prancing Horse, particularly after the former CEO, Luca di Montezemolo, stepped down after controversy with Fiat-Chrysler over Ferrari’s future plans.

Now, a sizable portion of Ferrari is set to go on sale through a public offering, and this is because Fiat’s Sergio Marchionne said “the mixing of their blood would be fatal to both,” in relation to Fiat’s ownership of Ferrari and the corporation’s future plans.

However, the reality is that FCA plans to sell 10 percent of Ferrari to mark up stock prices and to gain more money through investors, while liquidating the rest of Ferrari to the remainder of Fiat-Chrysler’s major shareholders. In essence, this could mean the very end of Ferrari as we know it today. We’re not sure what this means, but there’s a lot of uncertainty to be raised since Ferrari is such a coveted automaker.

“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,” FCA’s John Elkann said in a press meeting.

Source: AutomotiveNews

Chris Chin

Chris Chin is the Editor-In-Chief of egmCarTech and is a regular contributor to Automobile Magazine.

admin has 4408 posts and counting.See all posts by admin