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Fiat Chrysler shareholders approve Ferrari spinoff

2015-12-03 21:34:49| Automakers - Topix.net

Fiat Chrysler Automobiles investors today approved the spinoff of its supercar unit Ferrari -- part of CEO Sergio Marchionne's plan to raise cash and reduce debt at the group. Shareholders voted about 98 percent in favor of the separation, in which Fiat Chrysler will distribute the remaining 80 percent stake in Ferrari to its own investors starting early next year.

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