MARCH 6, 2002
Montezemolo hints at Ferrari flotation
IT has been rumored for some months now but it looks increasingly likely that Ferrari is going to be floated at some point in the near future. The company is 90% owned by a company belonging to the Agnelli Family, who also own FIAT, with the remaining 10% being held by Piero Lardi Ferrari, Enzo Ferrari's son.
It is expected that the Agnellis would hold on to the controlling votes in the business even if the business was floated. Ferrari has done well in recent years both in the marketplace and on the race tracks. The firm is now rebuilding the Maserati car company so as to increase sales without diluting the exclusivity of Ferrari.
Ferrari has long been able to fund its racing programs without too much assistance from FIAT and so it is unlikely that a flotation would affect the F1 program.
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