Who owns who? Fiat Ferrari GM?

See my post #9 for background on the now unwound Fiat/GM deal. Financial/corporate information about Ferrari can be found on Fiat's corporate website, among other places. Here are two updates, from the UK Ferrari Club's excellent site:

Feb 14 05

General Motors Corp. will pay Italy's Fiat SpA $2 billion to nullify an agreement that could have forced the U.S. automaker to buy Fiat's money-losing auto operations, the companies said in a statement Sunday.
Under the settlement, GM will return its 10 percent stake in Fiat Auto to the parent company, GM and Fiat will dissolve two joint ventures, and GM will acquire an interest in Fiat's diesel engine business.

July 29 05

"Abu Dhabi's state investment company has bought a 5 per cent stake in Ferrari, the Italian sports car manufacturer owned by Fiat, in the latest investment in the European motor industry by oil-rich Gulf kingdoms.

Mubadala Development paid €114m ($137m) to buy the stake from Mediobanca, valuing Ferrari at €2.28bn. The valuation is the same as that paid by Mediobanca, the Italian investment bank, for a 34 per cent holding two years ago, and is regarded as high by financial analysts.

 

That would be a big disaster or in my own words “that would totally SUCK”, one of the many US auto corporations (Ford, Chevy, Dodge, etc) try to acquire Ferrari through Fiat since all American auto companies produce “Crap” products. That would kill Ferrari and its heritage. We should ALL buy Ferrari stock if offered to prevent this happening and protect Ferrari from disaster. Just my 2 cents in the pot!

Rob

 

I don't see it happening, at least in the near-term future. The US automakers have too much to deal with already.

 

Whats the market cap of Porsche?

 

latest on Fiat forcing GM to 'give' fiat back, !!!! taken from BBC news

Italy's Fiat has rebounded into profit, just as it promised in February, thanks to a $1bn (£531m) payment from carmaker General Motors (GM).
Fiat posted a net profit of 293m euros ($377m; £200m) in the first quarter, up from a loss of 390m euros a year ago.

The company's shares fell more than 4% in Milan, however, and analysts said that serious problems remained despite management talk of a turnaround.

Sales in the first three months of 2005 dipped 2.4% to 10.8bn euros.

Unwanted business

Without the GM payment, the Fiat group - which makes industrial and agricultural machinery as well as cars - would have posted a net loss of 245m euros.

The cash is the first instalment of a $2bn agreement between GM and Fiat, which allowed the US carmaker to buy its way out of a joint venture.

In February, Fiat agreed - in return for the money - to annul a "put" option that gave it the right to sell its unprofitable auto business to the US company.

Fiat, one of Italy's best-known firms and a mainstay of the country's economy, has been struggling with its underperforming carmaking division for a number of years.


The Ferrari prancing horse badge is one of Fiat's most valuable assets

Previously loyal Italian consumers have developed more international tastes and the company has seen its market share shrink amid increased competition from foreign rivals such as Renault, Toyota and Peugeot.

Fiat's troubled car unit, which produces vehicles under the Fiat, Lancia and Alfa Romeo brands, saw sales drop 9.3% to 4.62bn euros in the first quarter.

It did, however, manage to narrow its losses to 129m euros from 146m euros a year earlier.

Pulling power

Despite the drag of the car unit, Sergio Marchionne, Fiat's fourth chief executive in as many years, is optimistic about his chances of turning the company around.

The company is pinning its hopes on the new Croma model and is looking at ways of cutting costs.

Having taken direct control of the car division, Mr Marchionne is looking to form strategic alliances and improve the performance of quality brands such as Alfa Romeo.

There also has been talk of a possible flotation of the company's Ferrari sports car marque, although Fiat has not commented on the speculation.

In the first quarter, sales of Ferrari and Maserati cars rose by almost 7%.

Divisions that performed well included Iveco, a maker of trucks and buses, and CNH Global, a producer of tractors and bulldozers.

 

The most recent ownership of Ferrari shares:
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