http://jalopnik.com/...rari-1652177644
WELL 10% to the public 90% to inside stock holders
Posted 29 October 2014 - 18:08
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Posted 29 October 2014 - 18:17
They've been planning it for a while with Montezemolo not being supportive. That likely had more to do with his sacking than the poor performance of the F1 team.
It should do well. The only possible downside is if the shareholders don't see value in continuing F1 spending at the current levels.
Posted 29 October 2014 - 19:23
The only possible downside is if the shareholders don't see value in continuing F1 spending at the current levels.
Reducing spending would be a good thing.
Posted 30 October 2014 - 11:24
So that was the subject of Ferrari's powerplay. LdM lost the battle, but will Ferrari lose the war? Without their exclusitivity I doubt Ferrari will hold onto their historical glory if someone or a group of people decides the company will have to produce a lot more cars all of a sudden. Might be a losing bet in the long term.
Posted 30 October 2014 - 11:51
In other words we'll see more Ferrari Theme parks and sets of three pencils for £15.
Without a parent company Ferrari will be under much more pressure to commercialize their brand in order to afford spending 150-250m Euros on F1.
Posted 30 October 2014 - 15:32
If ferrari goes this trend i won't be surprised that their next signing would be Pastor Maldonado.
Posted 31 October 2014 - 16:41
surprised by the lack of comment on this MAJOR ACTION
Posted 31 October 2014 - 16:46
Posted 31 October 2014 - 17:42
a major event ?
or going to happen ?
or is this board so biased toward drivers rumors
it has no time to worry about the car builders ?
Posted 31 October 2014 - 19:39
Maybe 'cos it isn't.
You are correct. It should have absolutely no effect on racing; it is strictly a financial move to generate some cash for FIAT-Chrysler, and most importantly, separate the Ferrari brand from FIAT and Chrysler. That brand is one of the most valuable in the world; and licensing Ferrari's name and logo generates very substantial net income.
Piero Ferrari, Enzo's son, continues to hold 10% of the shares (increased by 8% after the distribution). 10% of the shares will be sold off, expected to net something between $500M and $700M to FCA to pay down debt. This is not a controlling holding, and unlikely to be able to name a single board member. The other 80% of the shares will be distributed amount the existing shareholders, in other words, the same groups who presently control the board which makes long-term decisions.
Effective control will remain with Exor and John Elkann. The present CEO (since 2008) will likely retire. He is an outstanding executive and a real gentleman in absolutely every way. (Very few Internet sources seem to know that he even exists.)
Last year Ferrari netted something like $348M; it has liquid assets of $1.8B. This includes the costs of existing programs. If I were a pay driver I think I'd save a stamp.
Cynic (Deadhead since the late '60s)
Edited by Cynic2, 31 October 2014 - 19:41.