Fiat Chrysler Automobiles Says Separation Of Ferrari Business Completed

(RTTNews) - Fiat Chrysler Automobiles N.V. (FCAU) and Ferrari N.V. (RACE) announced that the separation of the Ferrari business from the FCA group was completed on January 3, 2016.

Fiat Chrysler stated that Ferrari common shares will continue to trade on the NYSE under the RACE ticker symbol, but from January 4, 2016, the shares will trade under the new CUSIP N3167Y 103.

Ferrari common shares have been approved for listing and are expected to commence trading on the Mercato Telematico Azionario or MTA on January 4, 2016, under the RACE ticker symbol and the ISIN code NL0011585146.

FCA shareholders are entitled to receive one common share of Ferrari for every 10 FCA common shares held. In addition, holders of FCA mandatory convertible securities are entitled to receive 0.77369 common shares of Ferrari for each MCS unit of $100 in notional amount.