Chrysler to spin off Ferrari to fuel other brands’ growth
30/10/2014
It plans to list a 10% stake in the US and possibly Europe next year. Ten percent of Ferrari is owned by Piero Ferrari, son of the founder Enzo, while the remaining 80% will be distributed to shareholders.
"Today is a big clean-up day," said group CEO Sergio Marchionne. "It gives us all the comfort to go and execute the plan up to 2018, it is designed to deal with the worst-case scenario."
The plan entails boosting group sales 60% to 7 million cars and raise net profit five-fold by 2018.
Image: Jeep UK in London last weekend (October 26) to continue its sponsorship of the NFL International Series. The brand is set to benefit from Fiat Chrysler’s plans.
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