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9 months ago
BRIEF-FCA Bank buys majority of Ferrari Financial Services for 19 mln eur
November 7, 2016 / 11:23 AM / 9 months ago

BRIEF-FCA Bank buys majority of Ferrari Financial Services for 19 mln eur

Nov 7 (Reuters) - Ferrari NV says:

* FCA Bank bought majority stake in Ferrari Financial Services GmbH (FFS) for 18.6 million euros

* FCA Bank (FCAB), a joint-venture between Fiat Chrysler and Credit Agricole Consumer Finance, signed in May a memorandum of understanding to buy a majority stake in FFS

* As a result of the transaction, FCAB and FFS will continue the operations of FFS GmbH as shareholders, supporting sales of Ferrari cars in Germany, Britain, Switzerland and certain other European countries Further company coverage: (Reporting by Milan Newsroom)

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