I'm not surprised that Fiat-Chrylser is letting go of Ferrari. While no other car brand has as much prestige as Ferrari, they don't really fit the rest of Fiat-Chrysler's portfolio. Combined that with the fact that they're having a hard time meeting their sales goals, they probably need to trim the fat somewhere. That said, I bet Luca Di Montezemolo wished he could have held out for just a bit longer. Maybe then he'd still be president after the IPO dust settles down.As part of the IPO, FCA initially intends to sell 10 percent of Ferrari's shares on the stock market. Another 10 percent of the company still belongs to Piero Ferrari. FCA is holding onto the remaining 80 percent in the short term for financial reasons but intends to distribute them to shareholders in early 2016. After the spin-off, about 24 percent of Ferrari would be owned by Exor, 10 percent by Piero Ferrari, and 66 percent by public shareholders, according to the SEC documents.