MILAN: Fiat Chrysler Automobiles expects to conclude the spin-off and initial public offering of luxury unit Ferrari this year, subject to regulatory approvals, FCA chief executive Sergio Marchionne said on Wednesday.
"I'd like to get everything done within 2015, IPO and spin-off. If we cannot make each one this year, it’s purely for regulatory reasons," Marchionne told analysts during a conference call to present the company's full-year results.
Marchionne said in October he would spin off Ferrari from the group, sell a 10 percent stake via a public offering and distribute the rest of FCA's stake to its shareholders.
