Fiat Chrysler (NYSE:FCAU) Sees Ferrari Spinoff Valued At $11-B
Sergio Marchionne, CEO of Fiat Chrysler Automobiles NV (NYSE:FCAU), expects its Ferrari SpA Supercar maker unit to be valued “at least” at 10 billion euros ($11 billion) in an IPO (initial public offering) scheduled this year.
“There are clear expectations from ourselves as Ferrari brand is unique,” Mr. Marchionne said Friday at the presentation of the new subcompact Fiat 500 in Turin, Italy. “There is also a scarcity value as we are just selling a 10% stake.”
Fiat Chrysler announced plans last year to sell 10% of Ferrari and distribute its remaining 80% stake to Fiat Chrysler investors. Piero Ferrari, the son of founder Enzo Ferrari, also owns 10% and plans to keep his holding. Getting the most out of the listing is Key for Mr. Marchionne’s plans to fund a EUR 48-B investment plan aimed at lifting Fiat Chrysler deliveries to 7-M cars by Y 2018.
Ferrari plans to on the New York Stock Exchange as a Dutch holding with its fiscal residence in the UK, Mr. Marchionne said Friday. This would mirror the multi-national structure used for parent Fiat Chrysler..
Mr. Marchionne said that Ferrari could be listed in New York on 13 October after the IPO was delayed for a tax issue.
|NYSE:FCAU||14.29||2 July 2015||-0.34||14.48||14.5||14.14||4,272,600|
|HeffX-LTN Analysis for FCAU:||Overall||Short||Intermediate||Long|
|Neutral (-0.22)||Bearish (-0.25)||Bearish (-0.29)||Neutral (-0.12)|
|Recent CandleStick Analysis
|1 July 2015||Homing Pigeon|
|30 June 2015||Homing Pigeon|
|26 June 2015||Homing Pigeon|
Open Gaps: down, 2 July 2015 at 14.54 to 14.5, down 29 June 2015 at 15.57 to 14.9
|Support and Resistance|
|HeffX-LTN Chart Indicators|
|VBu=Very Bullish, Bu=Bullish
Be=Bearish, VBe=Very Bearish
Have a terrific weekend.
Latest posts by Paul Ebeling (see all)
- Hyperloop: Travel from Dubai to Abu Dhabi in 15 Minutes - February 11, 2016
- Savvy Market Participants Buying Gold - February 11, 2016
- The Vignale Corvette, A Famous Sports Car - February 11, 2016
- Tune Into Your Happiness Channel - February 11, 2016
- Donald Trump, Univision Settle Miss USA Pageant Dust Up - February 11, 2016
Trade FX, Equities and Options with the World's Leading Platform , call our trade desk 631 482 0376, or contact us to get started.
Savvy Market Participants Buying Gold $GLD, $DIA, $SPY, $QQQ, $VXX ... read more
Forex Technical Outlook For EUR/USD (Daily) $EURUSD, $DXY Euro EUR/USD ... read more
Gold Trading Above Trendline Resistance, Crude Oil Bears Rule $GLD, ... read more
Statflo Inc., which is reinventing wireless customer service, today announced ... read more