By Olivia Bugault

 

Ferrari NV said late Wednesday that it has decided to temporarily suspend its multiyear share buyback program in its third tranche.

Consequently, Ferrari has also "early terminated the 150 million euros ($167 million) nondiscretionary share repurchase agreement in place with a primary financial institution on the MTA market," the Italian car maker said.

Ferrari will announce later the date of reopening of its share buyback program, it said.

 

Write to Olivia Bugault at olivia.bugault@wsj.com

 

(END) Dow Jones Newswires

April 02, 2020 01:27 ET (05:27 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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