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Bloomberg News reported that the spinoff of Ferrari from Fiat Chrysler Automobiles has moved forward. FCA has applied for an initial public offering of Ferrari stock on theNew York Stock Exchange, where FCA is traded.
Ferrari’s worth is currently estimated at around $11 billion. The split is not due until calendar-year 2016, and is aimed at helping FCA cut $5 billion from its debt. The company aims to spend around $53 billion over the course of several years to expand its key upscale brands around the world — Jeep,Maserati, and now Alfa Romeo.
If Ferrari does find buyers at the initial$10 billion price, FCA would only earn $1 billion from it, though another $1 billion or so in cash is expected to be repatriated from Ferrari’s balance sheet as well. (...) →
Ferrari Split Moves Forward is from Allpar News.
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Ferrari’s worth is currently estimated at around $11 billion. The split is not due until calendar-year 2016, and is aimed at helping FCA cut $5 billion from its debt. The company aims to spend around $53 billion over the course of several years to expand its key upscale brands around the world — Jeep,Maserati, and now Alfa Romeo.
If Ferrari does find buyers at the initial$10 billion price, FCA would only earn $1 billion from it, though another $1 billion or so in cash is expected to be repatriated from Ferrari’s balance sheet as well. (...) →
Ferrari Split Moves Forward is from Allpar News.
More...