Fiat Chrysler Automobiles (FCA) today announced that Ferrari will become a separate, publicly traded company in the U.S. and maybe in Europe as well.
The company said it will hold a public offering to sell 10% of its interest in the legendary exotic car maker, and plans to distribute 80% of Ferrari shares to FCA shareholders. The remaining 10% is owned by Piero Lardi Ferrari, the second and only living son of company founder Enzo Ferrari.
"As we move forward to secure the 2014-2018 business plan and work toward maximizing the value of our businesses to our shareholders, it is proper that we pursue separate paths for FCA and Ferrari," said CEO Sergio Marchionne in a statement.
Said business plan is projected to cost €48 million ($61 million).
Marchionne wants to increase Ferrari sales in the next few years, which could take some of the exclusiveness out of the cars.
Source: Le Monde