Deals
Marchionne Sees Ferrari’s Value Exceeding $11 Billion in IPO
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Sergio Marchionne, chief executive officer of Fiat Chrysler Automobiles NV, expects its Ferrari SpA supercar-maker unit to be valued “at least” at 10 billion euros ($11 billion) in an initial public offering scheduled this year.
“There are clear expectations from ourselves as Ferrari brand is unique,” Marchionne said Friday at the presentation of the new subcompact Fiat 500 in Turin, Italy. “There is also a scarcity value as we are just selling a 10 percent stake.”