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Fiat Chrysler to spin off Ferrari, issue $2.5b convertible bond

2014-10-30 08:13:41| Auto Dealers - Topix.net

Fiat Chrysler Automobiles said on Wednesday it will spin off its luxury sports car maker Ferrari and list the shares as part of a bigger scheme which includes a $2.5 billion convertible bond issue to help fund its ambitious business plan. The newly created FCA, which moved its primary share listing to New York earlier this month, wants to invest 48 billion euros over the next five years to turn Jeep, Maserati and Alfa Romeo into global brands and rival Volkswagen and BMW by strengthening its position in the fast-growing and high-margin market for premium cars.

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Ferrari to split with parent company, Fiat Chrysler

2014-10-29 19:16:38| Automakers - Topix.net

Ferrari will split with its parent company, Fiat Chrysler, and investors will soon be able to buy shares in the iconic sports car maker. Fiat Chrysler announced the news Wednesday, saying Ferrari will be listed in the U.S. and possibly on a European exchange.

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Fiat Chrysler to spin off luxury brand Ferrari

2014-10-29 19:16:37| Automakers - Topix.net

Fiat Chrysler Automobiles announced Wednesday it will spin off sports car maker Ferrari into a separate company, a move to unlock the luxury brand's value and distinguish it from its mass-market parent. The spinoff aims to raise money to support the newly merged carmaker's plans to invest 48 billion euros over five years to compete with global giants Toyota and Volkswagen.

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Fiat Chrysler says to spin off Ferrari, list 10 percent stake

2014-10-29 19:16:36| Automakers - Topix.net

The world's seventh-largest carmaker said the board had mandated its management to complete the spin-off next year. It said the remaining 90 percent would be distributed among FCA shareholders - who include the Agnelli family which founded Fiat.

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