The Board of Directors of Fiat Chrysler Automobiles (FCA) has authorized the separation of the Ferrari brand of the group a transaction "will be completed probably in 2015" as confirmed by the Italian group CEO Sergio Marchionne.
Separation was carried out through the public offering of 10% of the participation of FCA in the brand of Cavallino and the distribution of the remaining shares to shareholders of the group. As for your quote FCA provides that actions of Ferrari listed in the US and in other European markets still to be determined.
In a press conference in London on FCA president John Elkann said that "it is an historic opportunity that denotes the beginning of a new stage" and stressed that "will continue to allow shareholders FCA continue to benefit from its intrinsic value" . According Elkann "what is sought by this operation is to ensure the autonomy and independence of Ferrari which thus can design your future."
The Milan Stock Exchange has taken very well this announcement which has also joined the quarterly results of the Fiat group made public this morning with a profit of 188 million euros similar to the previous year. The actions came to climb a 18.36% in the afternoon.
The automotive group achieved a turnover of 23.553 million euros in the third quarter an increase of 14%. Its gross operating profit (EBITDA) was 2.166 million euros an improvement of 6.7% while net operating profit (EBIT) was 926 million euros also with an increase of 7% from data from the same period of 2013. Its net debt was EUR 11.372 million compared to 9.704 million euros in the same period of 2013.
In announcing these results Marchionne was satisfied noting that "positive results confirming the goals we have set for this year." Marchionne is also the CEO of Fiat Group President of Ferrari after the departure of Luca de Montezemolo last October 1. This dismissal has cost the Italian group compensation of 27 million euros. His departure was due to the poor performance in the sporting arena by Ferrari announced the company. for the other reviews about the newest cars visit here.
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