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29/10 21:31 CET

Fiat in Ferrari spin-off

Fiat in Ferrari spin-off

Shares in Fiat Chrysler Automobiles (FCA) went into overdrive on Wednesday, shooting up after the carmaker announced its Ferrari luxury car division will become a separate company. Ten percent of Ferrari will be sold to investors, with the rest of the stock distributed among existing Fiat Chrysler shareholders. The spin-off of the…