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10 Things you should know about Ferrari
Ferrari is a brand founded by Enzo Ferrari. Here are 10 Things you should know about Ferrari.
- Ferrari is an Italian luxury sports car manufacturer based in Maranello, Italy.
- It was founded in 1939 out of Alfa Romeo’s race division as Auto Avio Costruzioni.
- The company built its first car in 1940.
- However, the company’s inception as an auto manufacturer is usually recognized in 1947, when the first Ferrari-badged car was completed.
- Fiat S.p.A. acquired 50% of Ferrari in 1969 and expanded its stake to 90% in 1988.
- In October 2014 Fiat Chrysler Automobiles N.V. (FCA) announced its intentions to separate Ferrari S.p.A. from FCA.
- As of the announcement FCA owned 90% of Ferrari.
- The separation began in October 2015 with a restructuring that established Ferrari N.V. as the new holding company of the Ferrari group and the subsequent sale by FCA of 10% of the shares in an IPO and concurrent listing of common shares on the New York Stock Exchange.
- Through the remaining steps of the separation, FCA’s interest in Ferrari’s business was distributed to shareholders of FCA, with 10% continuing to be owned by Piero Ferrari.
- The spin-off was completed on 3 January 2016.
