Fiat buys back Ferrari shares

Plex · Posted: Mon Sep 18, 2006 6:57 pm Post subject: Fiat buys back Ferrari shares

Fiat is buying back the shares in Ferrari which it sold to investment bank Mediobanca in 2002, according to Italiaspeed.com. It is to invest a rumoured $800 million to take back the 29% stake to add to the 56% it has continued to hold; a further 10% is still owned by the Ferrari family, and the final 5% was sold by Mediobanca to the Mubadala Development Company, a UAE-based conglomeration which also holds a stake in Spyker.

Source: http://www.channel4.com/4car/news/news-story.jsp?news_id=15196

zodiaque · Dude where's my Car? Joined: 06 Apr 2005 Posts: 602

This is interesting, IMHO, a very good move.
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MG Man · Posted: Tue Sep 19, 2006 8:11 am Post subject:

no biggie
Fiat has pertty much owned Ferrari for decades. You always saw the Fiat logo on the nose of Ferrari F1 cars as far back as the 1970s
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zodiaque · Dude where's my Car? Joined: 06 Apr 2005 Posts: 602

I remember a guy with a fiat I saw once in a car mag had put a ferrari sticker on the side of it just for kicks Laughing

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Plex · Posted: Fri Sep 22, 2006 4:23 am Post subject:

i guess he was indicating that fiat owns part of ferrari... Laughing

NarendZORCE · Posted: Fri Sep 22, 2006 9:39 am Post subject:

FIAT pwns!
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