February 18, 2015 / 3:38 PM / 4 years ago

Family owners of Ferrari say will not sell stake

The logo of Italian sports car maker Ferrari is seen on the bonnet of a Ferrari F50 during a media presentation of the "Superdeportivos" (Super sports cars) trade show in Madrid December 15, 2011. REUTERS/Susana Vera

MODENA, Italy (Reuters) - Piero Ferrari, son of the eponymous luxury sports car company’s founder Enzo Ferrari, said on Wednesday he had no intention to sell the 10 percent stake his family owns in the company.

“I have never sold and I have no intention of doing so,” Ferrari told journalists at an event.

Car maker Fiat Chrysler Automobiles (FCHA.MI) (FCAU.N) plans to conclude the spin-off and initial public offering of Ferrari this year, subject to regulatory approvals, FCA Chief Executive Sergio Marchionne said last month.

Marchionne said in October he would spin off Ferrari from the group, sell a 10 percent stake via a public offering and distribute the rest of FCA’s stake to its shareholders.

Reporting by Elisa Anzolin; writing by Francesca Landini. editing by Danilo Masoni

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