Abu Dhabi investment company Mubadala five years ago bought a 5% share in Ferrari. Fiat have now bought that back giving them 90 per cent of Ferrari. All costing Fiat £104m according to UAE newspaper, The National.
A Fiat spokesman.”I can confirm that Fiat has exercised the call option for the purchase of the Ferrari stake held by Mubadala. We have no further comment to make.”
Industry rumours are suggesting that Fiat are looking to float the company while keeping a 52% share. Ferrari is valued at over 2.5 million which would give the company quite a hefty amount of cash for other projects.
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