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# Fiat Chrysler to Spin-Off Ferrari into Independent Company

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<!-- video src="https://cdn.jwplayer.com/manifests/xaX1W18G.m3u8" -->
## Video: Fiat Chrysler to Spin-Off Ferrari into Independent Company

[Watch (HLS stream): Fiat Chrysler to Spin-Off Ferrari into Independent Company](https://cdn.jwplayer.com/manifests/xaX1W18G.m3u8) (1:11)

![Fiat Chrysler to Spin-Off Ferrari into Independent Company](https://cdn.jwplayer.com/v2/media/xaX1W18G/poster.jpg?width=720)

_Published 2014-10-29. Fiat Chrysler announced Wednesday it’s spinning off its famous luxury car brand Ferrari into an independent company – listing 10 percent of the stock on the market and distributing the remaining 90 percent to its shareholders._


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Jul 27, 2023 5:26 PM UTC

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---


## Transcript

Perhaps Fiat Chrysler's most prized possession is up for grabs on the stock market. Well, at least some of it. [ NOISE ] Fiat Chrysler announced Wednesday it's spinning off its famous luxury car brand Ferrari into an independent company, listing 10 % of the stock on the market and distributing the remaining 90 % to its shareholders. CNBC's Phil LeBeau reports the value of the entire company is around 6 billion dollars. Fiat Chrysler CEO, Sergio Marchionne said in a statement, as we move forward to secure the 2014- 2018 business plan, it is proper that we pursue separate paths for FCA and Ferrari.

It's a business plan with an ambitious goal. Marchionne says he plans to double the automaker's profits and grow Fiat Chrysler by more than $ 60 billion by 2018. Well, if you are Sergio Marchionne and the Fiat Ford, you are looking at Ferrari and saying. This is our most valuable asset that we can spin off to raise capital. The news has also led to a humongous boost in Fiat- Chrysler share price, jumping almost 19 % to $ 11. 56 per share at one point Wednesday.

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