Ferrari Shares For Sale, But Likely To Remain Family-Owned Photo:
Trevor Collett | Oct, 30 2014 | 0 Comments

Ferrari fans will soon be able to purchase a small slice of their beloved Italian carmaker, but they’re unlikely to be able to influence the company directly.

Industry paper Automotive News reports Fiat Chrysler Automobiles (FCA) plans to put up 10 percent from its 90 percent stake in the Prancing Horse, for sale to new investors.

Peiro Ferrari - son of company-founder Enzo - will retain his 10 percent share, but what becomes of FCA’s remaining 80 percent share is unclear.

FCA says the 80 percent will be distributed to existing shareholders at no cost, but CEO Sergio Marchionne said it’s “too early to tell” if shares would be distributed using the same loyalty scheme employed when FCA was established earlier this year.

That scheme saw pre-FCA Fiat investors awarded two votes for each share they owned, with the Agnelli-Elkann family turning its 30 percent Fiat stake into 47 percent of FCA’s voting shares.

Under the same scheme, the Agnelli-Elkann family would hold 36 percent of voting shares in Ferrari, while Piero Ferrari would hold 15 percent.

Together, the combined 51 percent would get the existing parties over the line for majority-ownership in Ferrari, meaning a third party couldn’t realistically mount a takeover bid.

It’s been an unsteady few months for Ferrari in the board room, with on-again, off-again rumours that production is set to increase to boost profits; but potentially watering-down exclusivity in the process.

Previous Ferrari Chairman Luca di Montezemolo vacated the top job to be replaced by Marchionne, with Montezemolo voicing his disapproval at the move more than once.

FCA plans to list Ferrari on the New York Stock Exchange and potentially other global markets by June next year.

MORE News & Reviews: Ferrari | FCA | Supercar

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