Categories : Auto Repair

A/C Works only when engine is revving high

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Ferrari valued at $11-billion or more in IPO, Marchionne States

The listing of Ferrari may value the sports car device a minimum of EUR10-billion ($11-billion U.S.), Fiat Chrysler’s chief executive Sergio Marchionne stated on Friday. The car maker decided last year to spin off Ferrari, offer a 10-per-cent stake via a public offering and disperse the rest of FCA’s stake in the luxury cars brand to its shareholders as it looks for to unlock value at both FCA and Ferrari. The company to be listed will certainly be the Dutch holding business of Ferrari, the CEO said on the sidelines of the launch of a re-styled version of its popular Fiat 500 hatchback. Turning to Greece, Marchionne said “everyone is fretted” about the referendum on Sunday where Greeks will vote on whether to endorse a help deal with lenders. “No matter who wins, there will be no delighted ending,” he included. Marchionne confirmed the financial targets of Fiat Chrysler for this year … See all stories on this topic

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