Fiat SpA of Italy said it boosted...

Fiat SpA of Italy said it boosted its stake to a controlling 90% in Ferrari, the prestigious manufacturer of luxury and sports cars. The auto giant, which is controlled by the Agnelli family, said it acquired an additional 40% stake in Ferrari “in the past few months” from Enzo Ferrari, the company founder and chairman who died in August. Fiat acquired a 50% stake in Ferrari in 1959 but had options to purchase up to 90% in the event of Enzo Ferrari’s death. The remaining 10% was left in the hands of Piero Lardi Ferrari, Ferrari’s son. A Fiat spokeswoman said the purchase of the additional 40% stake cost Fiat about $13.5 million.