There are too many people agreeing with me...something must be seriously wrong!!!!
SM is a smart guy and he certainly won't devalue an asset before selling it. You gents need to understand that it is normal practice with a spin off to both apportion debt and pay dividends. Also remember that after the ipo 90% of Ferrari will start with the same owners. Actually Ferrari will in many ways be more independent. A lot of people are striking out at Sergio because he dumped someone we all love and respect. But he had a different vision for how Ferrari could grow. Let's give him a chance.
The ninety percent is a misleading figure. The majority of the stock will be held by others than Piero and the Agnellis. People who don't have the company's best interest as a primary concern.
Ten percent of new stock is being put on the market. Existing non-family shareholders will have a 46% interest. Combined, 56% will be be owned by the general public.
Lotus has never, as far as I am aware, made its own engine. Don't know anything about the Huracan and really don't care. As an Alfisti I was embarrassed and annoyed with the modern 8C; A Maserati with a few Alfa badges chucked on it. The 4C is much better but not sure what it is trying to be. Wish I could drive one to understand what it's about. Like watching British Leyland all over again, but this time I care. Pete
Lotus made its own engines from the mid 70's both 4 cyl and V8 - so they count as a manufacturer to me. I will keep my opinion of the flat pack Lambo's to my self. John
Exactly It is, and will be, the same owners who own Ferrari now, and have owned them all these past years. So, what Sergio is doing is leaving Ferrari with essentially the same owners, but independent of FIAT and with some dividends paid and debt settled.
Exactly? A majority of the shares will be owned by investors without a direct connection to the company. These shares will be in play if a large automaker is looking to add Ferrari to its brand.
I dont find that at all discomforting. Does anyone think Ferrari were always going to be the same forever. The potential for this always existed. Its business and none of this is in anyway shocking.
Not shocking but there's a new level of uncertainty as to Ferrari's future and that has to be a matter of interest, possibly concern.
FIAT owns 90% of Ferrari. Meaning FIAT shareholders own 90% of Ferrari now. 80% of all Ferrari shares will be sold to FIAT shareholders. 10% will remain owned by Piero. So 90% of Ferrari will be in the same hands after the float
You seem to put a lot of stock in the loyalty of the existing Fiat small holders. I have to suspect that they're not too unlike other investors and their loyalty will not trump a nice profit if VW is looking to buy Ferrari.
I guess they'd make the same decision they'd make today. Same people same decision. TBH it may give Ferrari more independence.
IMHO there is zero likelihood of a VW acquisition of Ferrari, another automobile manufacturer possibly, but not VW. The European Union's Competition Commission (the Union's anti-trust policeman) will never permit a single company to own Ferrari, Lamborghini, Porsche, leMans dominator Audi and sometime leMans competitor Bentley. I could be wrong but don't think so.
Luca hits back..... I'm starting to think sweater boy may have bitten off a little more than he can chew by alienating LdM...... He may be "good", but is he that good? Other than our buddy mulehead and his CHL tag, seems most here have a lot of time for the guy and what he achieved. Now he's on the board, will he carry a grudge? Cheers, Ian
Different company. The odds of someone offering bags of gold for Fiat stock are a bit smaller than for Ferrari stock. I cited VW just as an example. It could be one if a number of existing automakers or a venture capital fund. Buying Ferrari has to be tempting.
It did for 21 years ... okay yeah they won a few races but not enough. It's funny, now that the team is 100% Ferrari again, instead of Benetton's painted red, they are completely stuffed again. Anybody ever watch a round of the A1 series? I did and by far the worst team on the track were the Italians. In identical cars they showed how emotional, poor rational thinking related to success on the track, while "English" teams were up the front battling it out for the wins. Hilarious. Love Ferrari but not because they are successful, but because of all this excess and arm waving drama. Pete