Undoubtedly disappointed with the results from the season-ending grand prix in Abu Dhabi, parent company Fiat, it seems, has bought back a 5 per cent stake in Ferrari that was sold five years ago to Abu Dhabi investment company Mubadala.
According to reports, parent company Fiat exercised a clause to re-acquire the five percent stake in Ferrari and it is believed the move ties-in with recent rumours of the Italian carmaker considering selling a significant part of its majority stake.
The buy-back of the Mubadala stake, according to the UAE newspaper The National, cost Fiat 122 million euros (RM520 million) taking Ferarri’s parent company shareholding up to 90 per cent.
It is believed Fiat is then prepared to see this figure drop to as low as a controlling 51 per cent.
“I can confirm that Fiat has exercised the call option for the purchase of the Ferrari stake held by Mubadala,” confirmed a Fiat spokesman.
However, that’s really as much as they would say, leaving us with little option but to sit tight and wait to see what happens.