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Fiat Chrysler spins off Ferrari into share scheme

Fiat Chrysler spins off Ferrari into share scheme

LONDON: This year Fiat Chrysler Automobiles introduced a scheme to merge into Dutch register. Chairman Fiat Chrysler Automobiles John Elkann said that a loyalty design that would enhance the voting power of Ferrari shareholders when it spins off the luxury marque coming year.

FCA Chief Executive Sergio Marchionne said that he would spin off Ferrari, and distribute the rest of FCA’s stake in the luxury sports car brand to its shareholders. Car making is “almost incidental” to Ferrari, which he sees more as a luxury stock.

The Agnelli family will emerge as the largest shareholder in Ferrari after the spin off. A loyalty scheme increases their influence on Ferrari’s future strategy.

Heads of Exor Elkann, plan is to give Ferrari the chance to develop its own growth strategy and he dismissed the idea of a luxury conglomerate.