PR Newswire
MARANELLO and TURIN, Italy, Nov. 7, 2016
MARANELLO and TURIN, Italy, Nov. 7, 2016 /PRNewswire/ --
Ferrari Financial Services S.p.A. ("FFS S.p.A."), an Italian indirect subsidiary of Ferrari N.V. ("Ferrari") (NYSE:
RACE; MTA: RACE), and FCA Bank S.p.A. ("FCAB") today announced that FCAB has acquired a majority stake in Ferrari
Financial Services GmbH ("FFS GmbH") for a total purchase price of EUR 18.6 million upon
consummation of the share purchase agreement entered into by the parties earlier this year.
As a result of the transaction, FFS S.p.A. and FCAB will continue the operations of FFS GmbH as shareholders, supporting the
sales of Ferrari cars in Germany, Great Britain and
Switzerland and certain other European countries by offering innovative vehicle financing
solutions to Ferrari customers. The funding of FFS GmbH will be provided by FCAB, which will also be the consolidating
entity.
FFS S.p.A. is Ferrari's own financial services provider based in Maranello, Italy.
FCAB is a banking group, and a joint venture between Fiat Chrysler Automobiles Italy S.p.A. and Crédit Agricole Consumer
Finance S.A., predominantly operating in the automotive financing sector in Europe. This
transaction will expand FCAB activities and is consistent with its diversification strategy.
The consummation of the transaction has been approved by the European merger control authority and the German and Italian
banking regulatory authorities.
www.ferrari.com
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SOURCE Ferrari NV