A lot has been going on surrounding the future ownership of Ferrari as of lately. At the 2010 Paris Motor Show, Fiat CEO Sergio Marchionne confirmed that the Italian automaker exercised its option to purchase back 5 percent of Ferrari SpA. However, he did not confirm whether the move was made as a step toward an initial public offering of Ferrari, which was rumored last week
Marchionne told reporters that Fiat had to buy back the 5 percent stake in Ferrari owned by Abu Dhabi’s Mubadala Development Co. He said that an IPO “is one of the things which could happen, but we have no immediate plans.”
When the buyback is all said and done, Fiat will go back to owning 90 percent of the supercar manufacturer.
– By: Omar Rana
Source: Automotive News (Subscription Required)