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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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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.
Jim Cramer Shares His View On Fiat Chrysler, Mattel And JetBlue
2014-10-30 04:52:42| Toys - Topix.net
CNBC Mad Money's Jim Cramer said on the show that he is a buyer of Fiat Chrysler Automobiles NV because it is well-run. The stock spiked 11.63 percent on the news that it will spin off its luxury sports car unit, Ferrari.
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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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