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2
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English
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Documents
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2014
Description
FCA Announces Board Intention to Spin Off Ferrari S.p.A.
The Board of Directors of Fiat Chrysler Automobiles N.V. (NYSE: FCAU) (“FCA”) announced that in
connection with FCA’s implementation of a capital plan appropriate to support the Group’s long-term
success, it has authorized the separation of Ferrari S.p.A. (“Ferrari”) from FCA. The separation will be
effected through a public offering of FCA’s interest in Ferrari equal to 10% of Ferrari’s outstanding shares
and a distribution of FCA’s remaining Ferrari shares to FCA shareholders . The Board authorized FCA
management to take the steps necessary to complete these transactions during 2015. FCA expects that
the Ferrari shares will be listed in the United States and possibly a European exchange.
“I am delighted to have taken this additional step in the development of FCA. Coupled with the recent
listing of FCA shares on the NYSE, the separation of Ferrari will preserve the cherished Italian heritage
and unique position of the Ferrari business and allow FCA shareholders to continue to benefit from the
substantial value inherent in this business” said John Elkann, Chairman of FCA.
FCA CEO Sergio Marchionne added. “Following our acquisition of the minority interest in Chrysler earlier
this year, the transformation of Fiat and Chrysler into FCA was completed earlier this month with our
debut on the New York Stock Exchange. As we move forward to secure the 2014-2018 Business Plan
and work toward maximizing the value of our businesses to our shareholders, it is proper that we pursue
separate paths for FCA and Ferrari,” Marchionne continued, “The Board supports management’s
determination that this transaction represents FCA’s best course of action to support the long term
success of the Group while at the same time substantially strengthening FCA’s capital base.”
The spin-off of Ferrari will be subject to customary regulatory approvals, tax and legal considerations,
final approval of the transaction structure from the FCA Board of Directors and other customary
requirements.
London, 29 October 2014
The Board of Directors of Fiat Chrysler Automobiles N.V. (NYSE: FCAU) (“FCA”) announced that in
connection with FCA’s implementation of a capital plan appropriate to support the Group’s long-term
success, it has authorized the separation of Ferrari S.p.A. (“Ferrari”) from FCA. The separation will be
effected through a public offering of FCA’s interest in Ferrari equal to 10% of Ferrari’s outstanding shares
and a distribution of FCA’s remaining Ferrari shares to FCA shareholders . The Board authorized FCA
management to take the steps necessary to complete these transactions during 2015. FCA expects that
the Ferrari shares will be listed in the United States and possibly a European exchange.
“I am delighted to have taken this additional step in the development of FCA. Coupled with the recent
listing of FCA shares on the NYSE, the separation of Ferrari will preserve the cherished Italian heritage
and unique position of the Ferrari business and allow FCA shareholders to continue to benefit from the
substantial value inherent in this business” said John Elkann, Chairman of FCA.
FCA CEO Sergio Marchionne added. “Following our acquisition of the minority interest in Chrysler earlier
this year, the transformation of Fiat and Chrysler into FCA was completed earlier this month with our
debut on the New York Stock Exchange. As we move forward to secure the 2014-2018 Business Plan
and work toward maximizing the value of our businesses to our shareholders, it is proper that we pursue
separate paths for FCA and Ferrari,” Marchionne continued, “The Board supports management’s
determination that this transaction represents FCA’s best course of action to support the long term
success of the Group while at the same time substantially strengthening FCA’s capital base.”
The spin-off of Ferrari will be subject to customary regulatory approvals, tax and legal considerations,
final approval of the transaction structure from the FCA Board of Directors and other customary
requirements.
London, 29 October 2014
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Publié par
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Publié le
29 octobre 2014
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Langue
English