India, Feb. 27 -- The Agnelli family of Italy, one the original founders of Fiat and a prime stakeholder in Ferrari, has now sold a portion of their stake worth around €3 billion ($3.14 billion).

Despite this, billionaire family still remains Ferrari's largest shareholder, retaining about 30 per cent of its voting rights, according to a Bloomberg report.

The stake sale comes as the family looks at a "sizable" new acquisition for diversification of their investments along with a €1 billion share buyback.

Ferrari NV meanwhile has announced that it intends to buy as much as 10 per cent of the shares sold by the family, up to a maximum of €300 million.

The stake sale by the family comes after the supercar maker's value r...