In 1997, Fiat sold a 50% share in the company to Maserati's long-time arch-rival Ferrari (though this was, and is, itself controlled by Fiat).[2] In 1999 Ferrari took full control, making Maserati its luxury division. A new factory was built, replacing the existing 1940s-vintage facility. Ferrari is credited for bringing Maserati back into business, after many lackluster years of Maserati teetering on the brink of bankruptcy.
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