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Ferrari officially files SEC paperwork to register future IPO

Late last year FCA announced plans to spin off Ferrari into a separate company, and after a long wait that process has finally become official. The Prancing Horse has now filed the necessary prospectus and other documents with the Securities and Exchange Commission to hold an initial public offering on The New York Stock Exchange. The paperwork doesn't mention a specific date for the Italian sportscar maker's IPO, but it's expected sometime in October. At this point, the documents also don't include some other vital data about the IPO. Ferrari lists neither the number of shares being offered nor their price. The company also doesn't have a stock symbol yet. UBS, BofA Merrill Lynch and Santander are acting as joint book runners for the deal. As part of the IPO, FCA initially intends to sell 10 percent of Ferrari's shares on the stock market. Another 10 percent of the company still belongs to Piero Ferrari. FCA is holding onto the remaining 80 percent in the short term for financial reasons but intends to distribute them to shareholders in early 2016. After the spin-off, about 24 percent of Ferrari would be owned by Exor, 10 percent by Piero Ferrari, and 66 percent by public shareholders, according to the SEC documents. FCA boss Sergio Marchionne believes that Ferrari could be worth over $11 billion. Although, his estimate might be slightly high. According to Reuters, Wall Street is actually putting the value somewhere between $5.5 billion and $11 billion. If you're thinking about investing in the company or just want to read the nitty-gritty about the brand's financial health, the entire SEC filing can be read here. Ferrari Files for Initial Public Offering LONDON, July 23, 2015 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") announced today that its subsidiary, New Business Netherlands N.V. (to be renamed Ferrari N.V.), has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission ("SEC") for a proposed initial public offering of common shares currently held by FCA. The number of common shares to be offered and the price range for the proposed offering have not yet been determined, although the proposed offering is not expected to exceed 10% of the outstanding common shares. In connection with the initial public offering, Ferrari intends to apply to list its common shares on the New York Stock Exchange.

Italian police foil plot to snatch Enzo Ferrari's body

Italian authorities on Tuesday said they had foiled a plot to steal the body of automotive legend Enzo Ferrari. That's Enzo Ferrari the man, not Ferrari Enzo Ferrari the supercar. Ferrari died in 1988 at age 90. He founded the company that produces some of the world's fastest and most expensive cars. Police in Nuoro on the island of Sardinia told a news conference that a gang had planned to snatch the body and demand a ransom from the Ferrari family or the company, Reuters and Italian news outlets reported. Authorities said the plot was discovered during an investigation into arms and drug trafficking. Helicopters and parachute regiment officers were used to execute 34 arrest warrants. Ferrari's body is interred above ground in a family mausoleum in Modena, near the Ferrari plant at Maranello in central Italy. Gang members had allegedly conducted several inspections of the burial site to plan the operation. The Ferrari founder has been in the news a lot recently. Two movie biopics are coming out, in which Robert De Niro and Hugh Jackman will each play the racing great.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Auto News Government/Legal Weird Car News Ferrari enzo ferrari

Ferrari patents a fancy and fascinating electric turbocharger

While turbocharging has improved vastly over the years, and it has enabled cars to become both more powerful and more efficient, there's always room for improvement. Turbochargers scavenge exhaust gas pressure and use it to turn a compressor that forces intake air into the cylinders. However, as the patent points out, this means the intake compressor and the exhaust turbine are physically coupled, and have to spin at the same rate. Ferrari's design divorces the two, and it's a happy breakup. The key is hooking up the two components of the turbo to their own individual electric motors, with an energy storage device in between. It's different than the electric supercharger systems you have seen on certain Audi products, for example. Those systems recover energy like a hybrid, store it, and then use it to drive an intake compressor. It supplements conventional turbochargers that harvest energy from the exhaust. In systems like Audi's, the electric supercharger is supplementing the sequential conventional turbochargers when they're not operating efficiently, at very low RPM in particular. It works well, but it's complicated, and it is a workaround for the limitations of a conventional turbocharger. See below for an animation of the Audi system. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Usually, optimizing a turbo is a compromise between figuring out what RPM is ideal for each side to spin at to generate power. A smaller compressor generates boost more quickly, but loses efficiency at higher RPM. But there's way more energy in high-RPM exhaust gasses. By hooking up the turbine to an electric motor instead, you can harvest energy from the exhaust throughout the rev range, and particularly when the engine is pushing lots of gasses through. And you can store that energy in a battery if it's not needed at that moment. The intake-side compressor also has a reversible electric motor attached. It is not physically connected to the turbine, so it can operate at any time the computers decide it's beneficial. As engine RPM increases, the compressor doesn't have to increase its speed beyond its optimal range, so there's less energy wasted. And at low RPM situations, when a conventional turbocharger wouldn't have enough exhaust gas passing through its turbine side to generate useful boost in the compressor side, the electric motor can spin up Ferrari's divorced compressor to provide some boost.