Fiat's Agnelli family to tighten grip on Ferrari after spin-off

Milan

ALMOST 70 years after Enzo Ferrari rolled out his first sports car, Ferrari is set to again be family controlled after Fiat Chrysler Automobiles NV spins off the company this year.

While public shareholders will own a majority of the shares, John Elkann and other descendants of Fiat founder Giovanni Agnelli, together with the son of Ferrari's founder, probably will control 51 per cent of the votes at an independent Ferrari, according to calculations by Bloomberg News.

That's because the company is likely to follow Fiat Chrysler's lead and set up a so-called loyalty share plan, which would give the …