Fiat / Chrysler will spin-off Ferrari

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

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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