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Ferrari Said to Consider Moving Fiscal Base Outside Italy
2014-12-10 20:13:39| Automakers - Topix.net
Ferrari SpA is considering moving its fiscal residence outside Italy to save on corporate taxes as the supercar maker prepares for its spinoff from Fiat Chrysler Automobiles NV, people familiar with the matter said. The manufacturer, which uses the colors of the Italian flag in its logo, may follow in the footsteps of its parent Fiat Chrysler, which is registered in the Netherlands, listed on the New York Stock Exchange and based in London for tax reasons, said the people, who asked not to be identified because the discussions are private.
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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.
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Fiat-Chrysler to Get $2.8 Billion in Cash from Ferrari in Spin-off Plan
2014-11-18 00:13:48| Automakers - Topix.net
Fiat-Chrysler is giving more details about its plans to spin off Ferrari as a separate company. Automotive News reports that the Italo-American auto conglomerate will seek a 2.24 billion, or roughly $2.8 billion in cash from the Italian supercar maker before the latter splits off into a separate company in 2015.
Ferrari will pay Fiat Chrysler $2.8 billion before its spinoff
2014-11-13 20:16:44| Automakers - Topix.net
Fiat Chrysler Automobiles estimates it will receive about 2.25 billion euros from Ferrari before it spins off the supercar unit next year. "Prior to the separation we also intend to enter into certain other transactions including distributions and transfers of cash from Ferrari currently estimated at 2.25 billion euros," FCA said today in a filing with U.S. regulators.
Fiat Chrysler CEO Sees Ferrari IPO In Second Quarter-third Quarter Of 2015
2014-11-11 17:43:18| Automakers - Topix.net
The initial public offering of luxury carmaker Ferrari is expected to happen between the second and the third quarter of 2015, the chief executive of parent Fiat Chrysler Automobiles FCA CEO Sergio Marchionne said last month he would spin off Ferrari from the group, sell a 10 percent stake via a public offering and distribute the rest of FCA's stake in the luxury sports car brand to its shareholders. The spin-off is part of a bigger capital-raising plan that also includes a $2.5 billion convertible bond issue to help cut debt and fund an ambitious business plan at the world's seventh-largest carmaker.
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