Mubdala, an investment company owned by the Abu Dhabi government, has purchased a five percent stake in Ferrari from Mediobanca. The stake was bought for the sum of 114 million EUR, approximately £78.5 million. This agreement will ensure Mudabala an Internal Rate of Return of at least 10 per cent.
Ferrari has claimed this move will open up several opportunities for developing strategies in the Middle East and North African markets. Ferrari Chairman Luca di Montezemolo stated this week, “Our initial consideration will range from the creation and development of road and racing car testing initiatives, along with professional driving schools through to the leveraging of opportunities around brand experiences and merchandising.”
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