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Ferrari to pay Fiat Chrysler $2.8B prior to spinoff

Fiat Chrysler Automobiles is trying to get capital together in a hurry to finance the automaker's growth plans. Among its strategies to raise money, Ferrari will be spun off from the FCA mothership next year with an initial public offering. However, the Italian supercar maker will be a couple billion dollars poorer at the start of its new life.
According to a filing with US regulators obtained by Automotive News, FCA intends to "enter into certain other transactions including distributions and transfers of cash from Ferrari currently estimated at 2.25 billion euros ($2.8 billion)" before it spins the supercar maker off. Those funds might include paying a dividend to investors, and FCA possibly transferring some of its debt to the Prancing Horse.
The Ferrari IPO will likely be in the second or third quarter of 2015, according to Automotive News. Ten percent of the automaker will go onto the public market in the US and possibly Europe too, and 80 percent will be distributed among current FCA shareholders. The other 10 percent is held by co-chairman Piero Ferrari, according to AN.

Ferrari 250 GT California could be your day off for $8 million

Vintage Ferraris consistently top the list of the most expensive cars ever sold. In private treaty sales, the 250 GTO is king, but even at public auctions, it's the horses that prance the highest. After the Mercedes W196 grand prix racer that set the world record this past July at nearly $30 million, the list of eight-figure sales is populated almost entirely by Ferraris: a 275 GTB/4 NART Spyder for $27.5 million, the pair of '57 Testa Rossas that sold separately a few years ago for $17 and $13 million apiece, the 250 LM recently went for over $14 million and the 250 GT SWB California Spider that sold in 2008 for $11 million.
Now RM Auctions has another California - this time a long-wheelbase model - on consignment for its upcoming sales in Arizona, where it is expected to fetch between $7 and $9 million. The 11th of only 50 made, chassis number 1055 GT features matching numbers, in red over black with those highly-coveted covered headlamps from the factory. It was delivered new in 1958 to Texas and was owned by some prominent Ferrari collectors and historians across the United States.
It underwent a comprehensive restoration in 1994 before taking the top prize in its class at the Cavallino Classic and has made the rounds of numerous other concours. It's spent the last few years in northern Europe and is now being put up for auction. "It is so choice," as our childhood friend Ferris would say. "If you have the means, I highly recommend picking one up." Check it out in the gallery of achingly gorgeous photos above and the details in the auction listing below.

2015 Ferrari LaFerrari [w/video]

What a year it's been for enthusiasts who love high-performance, higher-dollar automobiles. The past twelve months or so have been consumed with the three horsemonsters of today's hybrid hypercar enlightenment: the Porsche 918 Spyder, the McLaren P1 and the Ferrari LaFerrari. Getting into just two of the three would be better than a lump of coal in one's stocking come holiday time, but for me, it'd still leave things feeling sadly incomplete, gnawing from within 'til the end of days.
Getting the call from Maranello, therefore, was even more fortunate and satisfying. The 918 Spyder - the only seriously green hybrid of the trio - shook me up with its sophisticated menu of technologies. The McLaren P1 remains more of a true hypercar than the Porsche, what with its e-motor designed to boost the lightweight beast to supernatural speeds above any terrestrial concerns like fuel efficiency. And now it's time for the Italian with the funny name, LaFerrari. No mistake about it: I've been waiting all year for this car a little more than I've been waiting for the other two.
This run of hypercars built up over the year like a famous three-part opera: The enthralling start of the drama sitting in the Porsche 918, tear-assing the heavier green dart around a track in Spain; then on to the UK with the lightness and quick heart of the biturbo V8 in McLaren's track-inspired P1, and it was all to be topped-off at Fiorano with the LaFerrari, fit for a Wagnerian finish.