Fiat Chrysler's stock surges on report of Maserati spinoff, following successful Ferrari separation

Key Points
  • Fiat Chrysler is considering spinning off Maserati and Alfa Romeo, according to Bloomberg News.
  • The two luxury brands combined are worth as much as $8.3 billion.
  • Ferrari is up more than 140 percent since it was spun off by the Italian-American automaker.
The Maserati Quattroporte.
Todd Korol | The Torongo Star | Getty Images

Shares of jumped more than 5 percent Wednesday after a report said the Italian-American automaker is considering spinning off some of its upscale brands.

The company may spin off Maserati and Alfa Romeo as Fiat Chrysler seeks to streamline its business, Bloomberg News reported, citing sources close to the parent company. It said the two luxury brands have an estimated combined worth of as much as $8.3 billion.

According to Bloomberg, sources close to Fiat Chrysler believe the company hopes to make itself more attractive for merging with a competitor.

Fiat Chrysler did not immediately reply to a CNBC request for comment. It is also considering separating from some of its parts business, Bloomberg said.

The report comes amid speculation that China's Great Wall Motor was speaking to Fiat Chrysler about purchasing its Jeep brand, which the multinational automaker . Before Fiat Chrysler's denial, a Great Wall Motor official said the Chinese company was interested in bidding for all or part of Fiat Chrysler.

Fiat Chrysler spun off former crown jewel on Jan. 4, 2016, after it took the supercar builder public on Oct. 21 of the previous year.

Ferrari stock since Jan. 4, 2016

Source: FactSet

Ferrari has been a stellar performer since its IPO, when it began trading at $60 per share. Ferrari's stock hit an all time high of $116.05 on Wednesday.

Read more from Bloomberg here.