Reports out of Europe have Fiat considering selling a big chunk of Ferrari S.p.A. to raise cash so it can increase its stake in Chrysler Group to 51 percent. The Italian newspaper Il Corriere della Sera said it has gathered information at Fiat’s Turin headquarters and reported Fiat wants to raise cash to fund buying 51 percent of Chrysler, up from the 20 percent it owns now. Consultancy Sanford C. Bernstein said it expected Fiat to raise its stake in Chrysler to 51 percent in 2011 or 2012. Listing Ferrari could be the way to do that. A Fiat spokesman denied the report on Sunday to our sister publication, Automotive News Europe. “There are no plans for any Ferrari listing,†he said. But then on Monday Fiat CEO Sergio Marchionne said Fiat will “evaluate everything†on Ferrari, though he added there is nothing immediately “on radar†for the supercar maker. And how much is Ferrari worth? In a recent report Morgan Stanley in London valued Ferrari at $4.0 billion. Read more: Is Ferrari for sale?
Sell possibly the most hallowed automotive brand ever; Ferrari, to purchase more of Chrysler? Certainly sounds ludicrous when you first say it......but alas I fear that I'm a much better enthusiast than I am a business man.
THIS JUST IN: Information obtained from an undesclosed source, indicated that MA has been placing feelers to purchase Ferrari.
I hope Fiat doesn't look back at their decision 10 years from now and say "WHAT WERE WE THINKING"? Sell off Ferrari for a truck building company that has a customer base that doesn't buy small nimble fuel efficient people movers? Why that's Fusilli.
yes, you're clever post didn't quite catch fire there did it (if it was a real Ferrari, it might have!)
Well... Ferrari may be worth $4B, but how fast is it growing? I'm guessing that Chrysler infrastructure has more potential upside for growing the Fiat Empire... Unless of course Ferrari starts making electric scooters! Matt
Now that I know they do a Segway... there is no need for them to do eScooters! Thier future is assured! Matt
I'm pretty confident Ferrari licensing opportunities are worth $4B if done right... of course, you'd need to sign somebody like T-Pain to wear the bling. Think how many sets of $20K 30" spinners you could sell with real Ferrari stallions on them... those would be the shizzle.
