According to UAE newspaper The National, Fiat has bought back a 5 percent stake in Ferrari from Abu Dhabi based investment company Mubadala. The 5 percent were sold five years ago and the contract had a clause according to which Fiat could buy back the stake at a certain time. The same newspaper reports that the buy back cost Fiat around 122 million Euros and it takes Fiat’s stake in Ferrari back to around 90 percent. But that’s not all, because this transaction fueled rumors that Fiat is planning on selling a large stake in Ferrari soon, probably as much as 40 percent.
When asked, a Fiat spokesman said that “I can confirm that Fiat has exercised the call option for the purchase of the Ferrari stake held by Mubadala.” Questioned about the rumored future sell, he had no further comments to make.
[Source: World Car Fans]
