The top two investors in the Italian supercar maker have signed a pact over shareholders that will give them a voting power of almost 50%.
This way, the two investors will get a tight grip of Ferrari after the brand separates from Fiat Chrysler Automobiles.
Due to a pact named Exor, the Agnelli family investment company and Piero Ferrari, the son of the sports automaker’s founder, will consult each other at general shareholders meetings over issues concerning the car company.
Moreover, the Agnelli family investment company stated that if the Ferrari shares get transferred to other investors, Exor will have the right to buy the shares, with Piero Ferrari being entitled to make the first offer.
John Elkann, Chairman and CEO of Exor, said that “Now that Ferrari is beginning a new chapter in its story, our two families have signed this agreement in order to provide all the stability necessary to guarantee Ferrari’s strength and its uniqueness for the future.”
Following the separation from Fiat Chrysler Automobiles, Exor will be the owner of 23.5% of the sports car maker with 33.4% of voting rights. On the other hand, Piero Ferrari gets 10% of the brand’s capital and 15.4% of the voting rights of the Italian company.
The agreement will last for starters for a period of five years. Fiat Chrysler Automobiles made a Dutch-registered holding company for Ferrari, and then listed its shares on Wall Street back in October. The Italian supercar maker will make its debut on the Milan bourse on the 4th of January in a secondary listing.