<SEC-DOCUMENT>0001193125-15-347237.txt : 20151118
<SEC-HEADER>0001193125-15-347237.hdr.sgml : 20151118
<ACCEPTANCE-DATETIME>20151019185200
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-15-347237
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20151019

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ferrari N.V.
		CENTRAL INDEX KEY:			0001648416
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLES & PASSENGER CAR BODIES [3711]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		VIA ABETONE INFERIORE N. 4
		CITY:			MARANELLO
		STATE:			L6
		ZIP:			I-41053
		BUSINESS PHONE:		00390536949111

	MAIL ADDRESS:	
		STREET 1:		VIA ABETONE INFERIORE N. 4
		CITY:			MARANELLO
		STATE:			L6
		ZIP:			I-41053

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NEW BUSINESS NETHERLANDS N.V.
		DATE OF NAME CHANGE:	20150717
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<TYPE>CORRESP
<SEQUENCE>1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">October&nbsp;19, 2015 </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>By Hand and EDGAR </U> </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and
Exchange Commission, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance, </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">100 F Street N.E., </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Washington,
D.C. 20549. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Attention: Laura Nicholson, Special Counsel </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Ferrari N.V. (formerly named New Business Netherlands N.V.) </B></TD></TR></TABLE>
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<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Amendment No.&nbsp;4 to the Registration Statement on </B></TD></TR></TABLE>
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<TD WIDTH="11%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B><U>Form F-1 (File
No.&nbsp;333-205804)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </B></TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms.&nbsp;Nicholson: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">On behalf of our
client, Ferrari N.V. (formerly named New Business Netherlands N.V.) (the &#147;<U>Registrant</U>&#148;), we are writing in connection with the above-referenced registration statement on Form F-1 (the &#147;<U>Registration Statement</U>&#148;) that
was filed on October&nbsp;19, 2015. Concurrently with the submission of this letter, the Registrant is filing Amendment No.&nbsp;5 to the Registration Statement (the &#147;<U>Amended Registration Statement</U>&#148;). The Amended Registration
Statement reflects comments of the Staff of the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;) made during a telephone conversation on October&nbsp;19, 2015 with Oderisio de Vito Piscicelli of Sullivan&nbsp;&amp; Cromwell
LLP. In response to the Staff&#146;s oral comments, the Amended Registration Statement consists only of an explanatory note, an updated exhibit index, a revised Exhibit 4.1, the executed 2% Senior Note due 2016 of the Registrant, and a new Exhibit
10.2, the English translation of the Framework Agreement (the &#147;<U>Framework Agreement</U>&#148;), dated as of December&nbsp;4, 2006, by and between Ferrari S.p.A., a wholly owned subsidiary of the Registrant (&#147;<U>Ferrari Italy</U>&#148;),
and Maserati S.p.A. (&#147;<U>Maserati</U>&#148;). </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Framework Agreement sets forth the intention of the parties to work together in
certain areas, including the supply of engines, but does not include operative provisions with respect to those potential areas of cooperation. The Framework Agreement, however, includes certain legal provisions that are incorporated by reference in
the Supply Agreement (the &#147;<U>2014 Supply Agreement</U>&#148;), dated as of December&nbsp;10, 2014, by and between Ferrari Italy and Maserati, the English translation of which is filed as Exhibit 10.1 to the Registration Statement and was
initially filed with the Commission on October&nbsp;19, 2015. Therefore, in response to the Staff&#146;s comment, the Registrant is filing the Framework Agreement as an exhibit to the Registration Statement. </P>

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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">October&nbsp;19, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
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<TD NOWRAP VALIGN="bottom" ALIGN="right">-2-</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Also in response to the Staff&#146;s oral comments, the Registrant respectfully advises the
Staff that it believes all contracts between the Registrant and Maserati required to be filed as an exhibit to the Registration Statement have now been filed with the Commission. Item&nbsp;601(b)(10)(ii) of Regulation S-K requires the filing of any
contract to which security holders named in the registration statement or report are parties unless the agreement is &#147;immaterial in amount or significance.&#148; Each of the other agreements relating to the relationship between Ferrari Italy
and Maserati need not be filed because they are individually and in the aggregate immaterial in amount and significance. Further, the provisions of these agreements are not relevant to an understanding of Ferrari Italy&#146;s rights and obligations
under the 2014 Supply Agreement or the Framework Agreement such that filing is required. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">In particular, the Supply Agreement (the
&#147;<U>2006 Supply Agreement</U>&#148;), dated as of December&nbsp;4, 2006, by and between Ferrari Italy and Maserati is an outdated contract that is superseded by the 2014 Supply Agreement. Although never legally terminated, the 2006 Supply
Agreement relates to engine projects that have been superseded by the engine products contemplated by the 2014 Supply Agreement and described in detail in the Registration Statement. Consequently, this agreement is no longer relevant to an
understanding of the Registrant&#146;s business. Ferrari Italy no longer generates revenue under the 2006 Supply Agreement. Therefore, it is immaterial in both amount and significance such that under Item&nbsp;601(b)(10)(ii) it need not be filed as
an exhibit to the Registration Statement. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">Further, the Registrant respectfully submits that the Services Agreement and Collaboration
Agreement contemplated by the Framework Agreement as future instruments of the companies&#146; cooperation mostly relate to services and relationships that have since ceased to apply among the parties. They also relate to certain chassis painting
services that continue to date but are immaterial in amount and significance (revenues of single-digit million euros in 2014). </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The
Registrant respectfully advises the Staff that it has filed all material agreements relating to the relationship between it and Maserati. Consequently, no additional agreements need be filed pursuant to the requirements of Item&nbsp;601(b)(10) of <FONT
STYLE="white-space:nowrap">Regulation&nbsp;S-K.</FONT> </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;* </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>


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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">October&nbsp;19, 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
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<TD NOWRAP VALIGN="bottom" ALIGN="right">-3-</TD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:7%; font-size:10pt; font-family:Times New Roman">The Registrant appreciates very much the Staff&#146;s prompt and helpful review of the
Registration Statement. Any questions or comments with respect to the responses may be communicated to the undersigned (tel: 212-558-3109 or email: <U>millersc@sullcrom.com</U>). Please send copies of any correspondence relating to this filing to me
by email and facsimile (212-291-9101) with the original by mail c/o Sullivan&nbsp;&amp; Cromwell LLP, 125 Broad Street, New York, New York 10004. </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top">Very truly yours,</TD></TR>
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<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Scott D. Miller</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Scott D. Miller</P></TD></TR>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top">Sonia Bednarowski </TD></TR></TABLE>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Claire Erlanger </TD></TR></TABLE>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Melissa Raminpour </TD></TR></TABLE>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">(Securities and Exchange Commission) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Alessandro Gili </TD></TR></TABLE>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Carlo Daneo </TD></TR></TABLE>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">(Ferrari N.V.) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Richard K. Palmer </TD></TR></TABLE>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Giorgio Fossati </TD></TR></TABLE>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">(Fiat Chrysler Automobiles N.V.) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Oderisio de Vito Piscicelli </TD></TR></TABLE>
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