Fiat Chrysler Automobiles (FCA), the Italian-US automobile company being the parent company of Ferrari, floated to the public 17.18 million shares accounting for nearly 10% of Ferrari at $52 a share at its IPO at the NYSE.
Berlin-based PR executive Herbert Franz should be a soft target for German luxury automakers - his last car was a BMW (BMWG.DE) X3 - but he can't wait to leave them behind.
Sergio Marchionne, chief executive officer of Italy's Fiat, said that the carmaker could issue a mandatory convertible bond as a way of financing investments after its $4.35 billion deal to buy the rest of Chrysler.
As the process to close the Fiat-Chrysler merger ongoing, automotive news site Autocar observed that Fiat had stopped its development plans on its Alfa Romeo vehicle series.
Subscribe to VCpost newsletter
- Vladimir Putin: Russia Becoming 'New Global Growth Center' Despite Western Isolation
- Amazon Removes Venmo as Payment Method, Causing PayPal Shares to Drop
- AMD Shares Rise After it Unveils New AI Chips to Compete with Nvidia
- Elon Musk Trashes Bob Iger, Says Disney CEO Should Be 'Fired Immediately'
- Uber Shares Jump After the Ride-Hailing Company Picked to Join the S&P 500 Index
- Gold Price Hits New Record High; Bitcoin Value Also Surges
- Beyond Profits: A Look Into Trevor & Greg's Serviced Accommodation Mentorship Program
- Charting Obstacles in Berner's Business Journey