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Fiat Chrysler told by U.S. regulators to speed up Takata airbag recall
2014-11-26 19:57:42| Automakers - Topix.net
U.S. regulators told Fiat Chrysler Automobiles to speed up its recall of airbags with faulty inflators linked to at least five deaths. The National Highway Traffic Safety Administration said in a letter Tuesday to the company that it should begin its recall of cars with Takata Corp. airbags Dec. 1, almost three weeks earlier than the company planned.
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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 CEO to Be Deposed in Jeep Fuel-Tank Fire Lawsuit
2014-11-16 00:27:00| Automakers - Topix.net
A judge has ordered Sergio Marchionne, chief executive for Fiat Chrysler Automobiles NV, to give a deposition in a Georgia lawsuit involving a 4-year-old boy killed in a Jeep fuel-tank fire.
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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