Ferrari worth more than £7bn, says Fiat
Sports car maker Ferrari expected to float on the stock market at the end of the year
Ferrari could be valued at more than €10bn (£7bn) when it floats on the stock market, according to Fiat Chrysler chief Sergio Marchionne.
“There are clear expectations from ourselves as [the] Ferrari brand is unique,” the CEO said on the sidelines of the launch of a re-styled version of the company's popular Fiat 500 hatchback.
The car maker decided last year to spin off Ferrari, sell a 10pc stake via a public offering and distribute the rest of its stake in the luxury sports car brand to its shareholders as it seeks to unlock value at both companies.
The group to be listed will be the Dutch holding company of Ferrari.
Turning to Greece, Mr Marchionne said "everyone is worried" about the referendum on Sunday, in which Greeks will vote on whether to endorse an aid deal with creditors.
"No matter who wins, there will be no happy ending," he added.
Mr Marchionne confirmed the financial targets of Fiat Chrysler for this year.