moparnut
Administrator
The spin-off of Ferrari from Fiat Chrysler Automobiles N.V. was completed today.
The news came in an announcement from FCA’s London headquarters. Neither FCA US’ media website nor Ferrari’s press outlet carried the item, though it may appear tomorrow as FCA US employees return following the holiday break.
So what’s changed? Other than a big cash windfall for FCA that will most likely be used to pay down debt, not much.
An agreement between the Agnelli family’s Exor and Piero Ferrari ensures a voting bloc that is essentially a controlling interest, thanks to a special two-votes-per-share structure. Sergio Marchionne will continue to run the show. (...) →
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The news came in an announcement from FCA’s London headquarters. Neither FCA US’ media website nor Ferrari’s press outlet carried the item, though it may appear tomorrow as FCA US employees return following the holiday break.
So what’s changed? Other than a big cash windfall for FCA that will most likely be used to pay down debt, not much.
An agreement between the Agnelli family’s Exor and Piero Ferrari ensures a voting bloc that is essentially a controlling interest, thanks to a special two-votes-per-share structure. Sergio Marchionne will continue to run the show. (...) →
More...