Financing, Stock Offerings

FCA delays Ferrari shares distribution, says IPO will happen in third quarter

April 29, 2015 17:56 CET

Fiat Chrysler Automobiles plans an initial public offering for 10 percent of its Ferrari unit in the third quarter but has delayed distributing the remaining stake to FCA shareholders until the start of next year, CFO Richard Palmer said....
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France sees 'no reason' for Nissan votes in Renault

April 28, 2015 19:47 CET

The French government sees no reason to allow Nissan to reactivate the voting rights on its 15 percent stake in Renault, Economy Minister Emmanuel Macron said. Macron is publicly at odds with Renault-Nissan CEO Carlos Ghosn over a government move to increase its voting weight in Renault....
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Fiat goes Dutch with first annual investor meeting in Amsterdam

6:38 am U.S. ET | April 16, 2015

After a century of meeting in Italy, Fiat shareholders convened today in Amsterdam, swapping the company's Lingotto factory with its rooftop racetrack for a luxury hotel in the Dutch city's red light district. Only 10 investors attended the session....
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FCA sale of Ferrari stake unlikely to exceed 10% after all

8:31 am U.S. ET | April 15, 2015

Fiat Chrysler does not expect to sell more than 10 percent of Ferrari in a planned initial public offering, CEO Sergio Marchionne said today, in a change of heart from a month ago....
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Tata plans to raise $1.2 billion to help fund Jaguar Land Rover expansion

March 25, 2015 17:52 CET

Tata Motors plans to raise as much as $1.2 billion in a rights offer to help fund investments at its Tata and Jaguar Land Rover brands. Jaguar Land Rover plans to add more than 40 new products and to increase manufacturing capacity in the UK, in China, Brazil and other markets....
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PSA's blue-chip index comeback may spur recovery

March 6, 2015 10:40 CET

PSA will return to France's benchmark CAC-40 index, stock market operator Euronext said, delivering a likely boost to the carmaker as it emerges from a prolonged European sales slump and bailout....
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Fiat Chrysler may sell more than 10% of Ferrari in New York IPO

4:57 pm U.S. ET | March 3, 2015

Fiat Chrysler Automobiles may sell a stake exceeding 10 percent when its Ferrari division holds an initial public offering this year, as more investors than expected seek a share of the supercar manufacturer....
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Family owners of Ferrari say they will not sell stake

10:36 am U.S. ET | Feb. 18, 2015

Piero Ferrari, son of the eponymous luxury sports car company's founder Enzo Ferrari, said today he had no intention to sell the 10 percent stake his family owns in the company....
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GM was considering buyback since before activist pressure, report says

3:46 pm U.S. ET | Feb. 11, 2015

Even before former Treasury official Harry Wilson showed up at General Motors asking for a share buyback, the automaker was considering just such a move that could come later in this year, a person familiar with the matter told Bloomberg....
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Marchionne says 'beauty contest' for Ferrari IPO is under way

Feb. 11, 2015 09:19 CET

A "beauty contest" is under way to select the banks that will take Ferrari public, said Sergio Marchionne, CEO of the supercar maker's parent, Fiat Chrysler Automobiles....
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MIKE COLIAS

BLOG: How much damage can GM's financial 'fortress' sustain?

1:54 pm U.S. ET | Feb. 10, 2015

Marauders are storming GM's “fortress balance sheet.” Or at least, they're knocking loudly on the door....
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GM to raise dividend, hints more for investors could come later this year

10:14 am U.S. ET | Feb. 4, 2015

General Motors said today it plans to raise its dividend by 20 percent, a move that comes as investors are calling on the auto giant to give them a bigger slice of the company's mounting pile of cash....
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Ford boosts stock dividend 20% even after profit declines

9:14 am U.S. ET | Jan. 8, 2015

Ford raised its quarterly dividend 20 percent today, the third boost in as many years, even as the automaker has said profit would decline for 2014....
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Takata stock rises after lender expresses support

6:33 am U.S. ET | Jan. 8, 2015

Shares in Takata, the maker of airbags that led to millions of vehicle recalls by global carmakers, rose to the highest price in more than two months as a major lender said it would support the troubled supplier should it fail....
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Ford poised to raise dividend by 20%, forecast says

2:49 pm U.S. ET | Jan. 5, 2015

Ford is poised to raise its quarterly dividend 20 percent, the third boost in as many years, even as the automaker has said profit would decline for 2014....
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GM to record $800 million charge after redeeming preferred shares

12:01 am U.S. ET | Jan. 1, 2015

GM said it will record a charge of about $800 million in the fourth quarter to redeem all 156.1 million of its outstanding Series A preferred shares. The move will simplify GM's quarterly financial reporting and close a chapter on the company's 2009 restructuring....
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Hertz raises U.S. prices as fleet costs increase

5:16 pm U.S. ET | Dec. 23, 2014

Hertz Global Holdings raised prices for rental cars to be picked up January 1 or later. The stock had its biggest gain of the year, and Avis shares soared, too....
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Faurecia vows to appeal $2.4M fine for market breaches

12:47 pm U.S. ET | Dec. 23, 2014

French auto parts maker Faurecia said today it would appeal against a 2 million euro ($2.44 million) fine imposed by the country's AMF stock market regulator for alleged selective disclosure of financial information to stock analysts in 2012....
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Ally's six-year bailout ends after U.S. sells $1.28 billion stake

7:48 pm U.S. ET | Dec. 18, 2014

The Treasury disposed of its remaining $1.28 billion stake in auto lender Ally Financial, resolving the last big bailout from an emergency government program to halt the 2008 financial crisis. Ally said the government ultimately gained $2.4 billion from its investment....
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Fiat Chrysler sells stock at discount after NY slump

Dec. 11, 2014 11:06 CET

Fiat Chrysler's share sale will carry a discount of 4 percent after the stock plunged the most in New York since the company's October debut. CEO Sergio Marchionne is seeking to raise about $5 billion to counter mounting debt....
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Hella shares rise 4% in stock market debut

Nov. 12, 2014 12:59 CET

Shares in German automotive lighting supplier Hella rose 4 percent during their stock market debut in Frankfurt....
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Carlyle’s Axalta auto-paint company rises in trading debut

4:16 pm U.S. ET | Nov. 12, 2014

Axalta Coating Systems, the former DuPont auto-paint unit now backed by Carlyle Group LP, rose in its first day of trading after raising $975 million in an initial public stock offering....
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Marchionne expects Ferrari IPO next year

Nov. 11, 2014 16:05 CET

The initial public offering of Ferrari is expected to happen between the second and the third quarter of 2015, said Sergio Marchionne, CEO of parent Fiat Chrysler Automobiles....
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Marchionne increases his Fiat Chrysler stake to 1%

Nov. 5, 2014 11:11 CET

Fiat Chrysler CEO Sergio Marchionne has increased his stake in the automaker to 1 percent and nearly doubled his voting stake after exercising stock options and cashing in on a share price jump after a plan to spin off Ferrari was unveiled....
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Marchionne gains $13 million with stock sale after Ferrari deal

Nov. 4, 2014 18:42 CET

Fiat Chrysler Automobiles CEO Sergio Marchionne made about 10.7 million euros ($13.4 million) from a surge in the automaker's share price after he announced a plan to spin off Ferrari....
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Nissan's Munoz: 'You grow or you go'

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