Ferrari has confirmed that it is finalising a deal to buy the remaining 49 of its Mazdaspeedur range from Italian firm Mazdag to China.
The deal will be finalized as early as this month, with the purchase expected to be completed in early October.
“We have decided to finalize the deal with Mazdagspeedur.
The agreement is final,” a Ferrari spokesperson told Automotive News.
“The Mazdakspeedur team will continue to work with Ferrari and its suppliers to further develop the brand.”
The deal with Mazda comes at a time when Ferrari is also considering the acquisition of a third stake in Chinese rival Daimler-Benz.
Daimler bought the remaining 50% stake in its Mercedes-Benz brand back in January, but is now looking to spin off its Mercedes brands.
“We are looking to make a decision in the next few weeks about our strategic strategy and future investments,” a spokesperson for the German automaker said.
“We do not have a specific date for the conclusion of the negotiations, but we will announce it soon.”
“Mazdagsperksperks” is a play on the words of Mazdarspeedur founder and CEO Jorges Mikkelsen, who once famously said: “I like to go back in time, but I also want to go forward.”
Mazdad, which was founded in 1902 and has produced some of the most iconic Ferraris of all time, will also be renamed in honor of Mikkelson’s son.
The deal comes as Ferrari has been hit by the introduction of new regulations that could see the brand lose some of its exclusivity.
In June, Ferrari said it would cut the number of models it sold from 50 to 39 from 2021.
A decision to sell fewer Ferraris will also see the sale of a few more Mazdadspeedur models, which is currently in the works.
Mazada, which has already announced that it will stop production of the Ferraris in 2020, has also confirmed that the brand will be closing its doors for good.