Fiat / Chrysler will spin-off Ferrari

[TerryMason]

Fiat is looking to raise some cash by spinning off Ferrari:

FCA will sell 10 percent of Ferrari's shares and give the rest of its 90 percent stake to its own shareholders

It appears that Ferrari's old chairman Luca Cordero di Montezemolo resigned last month because of a clash with Marchionne. Montezemolo wanted to run Ferrari independently while Marchionne said that Ferrari cars "have and will continue to define us.". I guess that didn't last too long...


Fiat Chrysler Spins Off Ferrari to Get Cash as Debt Soars - Bloomberg