The Italian-American corporation Fiat Chrysler Automobiles decided to separate its division into an independent company Ferrari NVspecializing in the production of luxury cars.
The main reason for this step is the company's desire to reduce its debt, which currently stands at 10.3 billion euros. The separation process is scheduled to be completed by January 2016.
10% of Ferrari shares were already sold in October this year. Another 10% belongs to the son of the founder of the company, Piero Ferrari, who said he had no plans to sell them. The remaining 80%s are now owned by Fiat Chrysler.
