Mediobanca sells 5 pct of Ferrari for 114 mln eur

Newswire

MILAN, July 27 (Reuters) - Italian merchant bank Mediobanca said on Wednesday it had sold 5 percent of sports-car maker Ferrari to investment company Mubadala Development Company for 114 million euros ($137.6 million). The sale price corresponds to the price Mediobanca paid to acquire the stake in 2002, the company said in a statement. Mubadala is owned by the governmment of Abu Dhabi.

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