Ferrari Should Be Worth $7.3 Billion in IPO
Fiat is considering a listing of sportscar maker Ferrari before getting a majority stake in U.S. maker Chrysler. Fiat owns 20 percent of Chrysler and is planning to increase its holding to 35 percent once it meets restructuring goals. Fiat SpA CEO Sergio Marchionne said that he has a price in mind if bankers are […]
Fiat is considering a listing of sportscar maker Ferrari before getting a majority stake in U.S. maker Chrysler.
Fiat owns 20 percent of Chrysler and is planning to increase its holding to 35 percent once it meets restructuring goals.
Fiat SpA CEO Sergio Marchionne said that he has a price in mind if bankers are interested in pursuing his company’s flagship brand of Ferrari: 5 billion euros.
Bankers are interested in the sports-car maker, with earnings before interest and taxes last year rising 23% to 302 million euros on revenue of 1.92 billion euros.
āI’ve always viewed Ferrari as a sacred brand, and sacred brands are peculiar,ā Marchionne said. I know I can float Ferrari any time, but there’s nothing on my desk.ā
Via Bloomberg