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Fiat Expects to Finish Ferrari Spinoff Next Summer

IPO part of a plan to grow FCA globally.

by on Nov.14, 2014

Sergio Marchionne told reporters in Italy that the Ferrari IPO will now happen in the second or third quarter of 2015.

The Ferrari initial public offering is now expected to be complete between the second and the third quarter of 2015, Fiat Chrysler Automobiles Chief Executive Sergio Marchionne told reporters in Italy.

FCA announced last month it planned to spinoff Ferrari from the group, selling a 10% stake via a public offering and distributing the rest of FCA’s stake in Ferrari to its shareholders. The Ferrari IPO is expected to raise $5 billion to reduce FCA’s debt and bolster the company’s balance sheet.


The spinoff is part of a bigger capital-raising plan that also includes a $2.5 billion convertible bond issue to help cut debt and fund an ambitious business plan aimed at turning FCA into a global carmaker. (more…)

Chrysler To Pay Back $7.5 Bil in Government Loans Next Week

No more "Government Motors"?

by on May.19, 2011

Fiat/Chrysler CEO Marchionne.

Chrysler is expected to confirm today it has lined up new financing that will allow it to repay next week the nearly $7 billion in government loans it received as part of its 2009 bankruptcy.

Chrysler CEO Sergio Marchionne has said he had hoped to repay the $5.9 billion owed to the U.S. Treasury and another $1.6 billion provided by Canada before the second anniversary of the maker’s emergence from bankruptcy protection, in June 2009.

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The move will allow Chrysler’s Italian partner, Fiat SpA, to quickly increase its stake in the U.S. maker to 46%, and that is expected to jump to 51% before year’s end.  In fact, Fiat has given recent indications it would like to push its share in the long-troubled Chrysler to as high as 70% and may even skip the planned IPO that would have resumed public trading in Chrysler stock.