Agnieszka's Feed
Nov 5, 2014

Italy’s Enel launches Endesa share sale as debt target looms

MILAN, Nov 5 (Reuters) – Italy’s biggest utility Enel
could sell up to 22 percent of Endesa, a
stake worth about $4.4 billion, as it seeks to increase its
Spanish subsidiary’s free float and reduce its own debt.

The power generation businesses of European utility groups
have had to contend with low wholesale prices and weak demand
during the region’s persisting economic weakness, but Enel is
also under pressure to shrink a debt burden that stood at 43
billion euros ($53.7 billion) at the end of June.

Oct 29, 2014

Fiat Chrysler to spin off Ferrari, issue $2.5 bln convertible bond

MILAN, Oct 29 (Reuters) – Fiat Chrysler Automobiles (FCA)
said on Wednesday it will spin off its luxury sports
car maker Ferrari and list the shares as part of a bigger scheme
which includes a $2.5 billion convertible bond issue to help
fund its ambitious business plan.

The newly created FCA, which moved its primary share listing
to New York earlier this month, wants to invest 48 billion euros
($61 billion) over the next five years to turn Jeep, Maserati
and Alfa Romeo into global brands and rival Volkswagen
and BMW by strengthening its position in
the fast-growing and high-margin market for premium cars.

Oct 29, 2014

Fiat Chrysler to list Ferrari stake, issue $2.5 billion in bonds

MILAN (Reuters) – Fiat Chrysler Automobiles (FCA) (FCAU.N: Quote, Profile, Research, Stock Buzz) plans to list a 10 percent stake in luxury brand Ferrari and issue $2.5 billion in convertible bonds to help fund the parent company’s turnaround plan.

The newly-created FCA, which listed shares in New York earlier this month, wants to invest 48 billion euros ($61 billion) over the next five years in a bid to catch industry leaders such as Volkswagen and Toyota, and some analysts have questioned whether it can afford that much given tough markets.

Oct 28, 2014

Brazilian outlook clouds Fiat Chrysler’s growth plans

MILAN/SAO PAULO, Oct 28 (Reuters) – Fiat Chrysler
Automobiles hopes to raise vehicle sales in
Latin America by 44 percent over five years but a recent big
drop in volumes and weakening outlook in Brazil, the region’s
biggest economy, threaten to spoil its ambitions.

Two years ago Latin America still accounted for nearly a
third of FCA’s profits, helping to offset a slump in sales in
Europe.

Oct 24, 2014

Fiat Chrysler’s targets seen at risk as North America still pressured

MILAN/DETROIT (Reuters) – Fiat Chrysler Automobiles could find it tough to meet its 2014 profit guidance and may cut forecasts when it reports quarterly results next week as slowly recovering North America profit margins may fail to fully offset weakness in Europe and Latin America.

The group (FCAU.N: Quote, Profile, Research, Stock Buzz)(FCHA.MI: Quote, Profile, Research, Stock Buzz) expects to raise operating profit, excluding one-off items, by as much as 14 percent this year, but has been struggling to make up for a double-digit sales drop in Brazil and a fragile recovery in Europe.

Oct 23, 2014

Gulf airlines target Italy as transit point for expansion

DUBAI/MILAN, Oct 23 (Reuters) – Having shuttled millions of
travellers through their plush home bases, rival Gulf airlines
are now battling over an Italian market which they see as ripe
for expansion and key to driving traffic on to long-haul routes.

The tussle will add to the pressure on established European
carriers who are already losing out on short-haul routes to
upstart budget airlines.

Oct 14, 2014

Fiat Chrysler’s Wall Street debut draws muted response

MILAN/NEW YORK (Reuters) – Investors cautiously greeted the Wall Street debut on Monday of Fiat Chrysler Automobiles (FCA), a move that shifts the carmaker’s center of gravity away from Italy and caps a decade of canny dealmaking and tough restructuring by Chief Executive Sergio Marchionne.

“We’re finally taking Chrysler back” to the U.S. stock market, Marchionne said Monday on the floor of the New York Stock Exchange. “One of the Detroit Three is coming home.”

Oct 12, 2014

Fiat Chrysler crowns merger with Wall Street debut

MILAN, Oct 12 (Reuters) – Fiat Chrysler Automobiles
(FCA) makes its Wall Street debut to great
fanfare on Monday, shifting the carmaker’s centre of gravity
away from Italy and capping a decade of canny dealmaking and
tough restructuring by CEO Sergio Marchionne.

The world’s seventh-largest auto group has sought the U.S.
listing to help to establish itself as a leading global player
through access to the world’s biggest equity market and the
cheaper, more reliable source of funding it ultimately offers.

Oct 10, 2014

Agnellis tighten grip on Fiat Chrysler ahead of Wall Street debut

MILAN, Oct 10 (Reuters) – The Agnelli family has tightened
its grip on Fiat by securing higher voting rights after
the carmaker’s merger into Fiat Chrysler Automobiles (FCA), a
statement from the Italian bourse shows.

The move by the Agnellis’ holding company Exor to
boost its voting power at Dutch-registered FCA to nearly 50
percent contrasts with other European carmakers, where
controlling dynasties have been forced to cede control to ensure
their companies’ survival.

Oct 9, 2014

Fiat Chrysler could sell $830 million of stock after U.S. listing

MILAN (Reuters) – Fiat Chrysler Automobiles (FCA) (FIA.MI: Quote, Profile, Research, Stock Buzz) could sell up to $830 million worth of shares to boost its finances and increase trading in the stock after it lists on Wall Street next week, according to Reuters’ calculations.

Fiat completed the full buyout of its U.S. unit Chrysler this year and is now incorporating all of its businesses under Dutch-registered FCA. A U.S. listing of the world’s seventh-biggest auto group is scheduled for Monday.