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Ferrari spin-off to cut Fiat Chrysler debt by 715 million euros - filing

2014-11-26 18:52:57| Automakers - Topix.net

FCA had already said in a separate filing with U.S. market regulator SEC earlier this month that it would receive 2.25 billion euros from Ferrari before it spins off the luxury sportscar unit from the group next year. The company added on Wednesday that this payment and the removal of Ferrari's own debt of 133 million euros from the parent group's accounts would be offset by the loss of Ferrari's cash and receivables worth 1.67 billion euros.

Tags: million cut filing euros

Category:Automotive

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