#divestitures

By this time next year, Ferrari will no longer be a part of Fiat Chrysler Automobiles, thanks to a plan announced today that will spin the exotic brand off from the rest of the Italo-American automaker.

Daimler wasn’t the only to sell its Tesla shares last week, as Toyota has done the same with some of its shares in the company.

Over five years ago, Daimler AG acquired a 9.1 percent interest in Tesla, gaining 1,000 battery packs for its Smart EV in exchange for helping to put the Model S on the road to production.

Wednesday, Daimler sold its remaining 4 percent in the company, netting $780 million for the trouble.

Ally Financial, the lending artist formerly known as GMAC Financial, inches closer to freedom from government ownership as the United States Treasury begins a second trading plan to shed its shares.

It’s official: the United States government has sold off its remaining $49.5 billion investment in General Motors.