Fiat is considering selling part of its sports car unit Ferrari to raise cash to increase its ownership percent of Chrysler, according to Reuters and the New York Times, both citing a report in the Italian newspaper, Il Corriere della Sera.
Fiat, based in Italy, reportedly is seeking liquidity to allow it to finance the acquisition of 51 percent of Chrysler. Selling Ferrari could be the solution, according to the daily newspaper’s sources in Fiat’s headquarters in Turin.
FOR MORE FERRARI INFORMATION, VISIT: Ferrari
Ferrari this week is debuting its limited edition convertible sports car at the Paris Motor Show.
A Fiat spokesman denied the report, commenting to Reuters: “There are no plans for any Ferrari listing.”
Fiat, which owns 20 percent of Chrysler, is expected to increase its holding to 35 percent once it meets revamping goals. It has an option to grow to 51 percent.