Posted on April 15, 2015.
Report from the Reuters.com Website:
Fiat Chrysler Automobiles does not expect to sell more than 10 percent of Ferrari in a planned initial public offering, CEO Sergio Marchionne said today, in a change of heart from a month ago.
Marchionne said last month Fiat Chrysler could sell more than 10 percent of the luxury unit to boost liquidity in the shares.
“I don’t believe we will go above 10 percent,” Marchionne said on the sidelines of an event in Amsterdam, but added that no final decision had been made.
A higher stake sold in the market would have reduced the number of shares in Ferrari that will go to current Fiat Chrysler shareholders, including Fiat’s founding Agnelli family, which has long been keen to protect its most prized jewel.
