A key goal of Fiat Chrysler Automobiles’ financial fitness regimen, started under former CEO Sergio Marchionne, has come to pass under his successor, Mike Manley.
On Monday morning, FCA announced the sale of its Italian parts unit, Magneti Marelli, to Japan’s Calsonic Kansei, itself owned by KKR & Co. The deal, worth $7.1 billion, sees the parts unit don the name Magneti Marelli CK Holdings. It’s likely very good news if you’re an FCA shareholder.
In a story that’s been developing for some time now, Fiat Chrysler is inching closer to shedding its component supplier, Magneti Marelli.
According to a report, a private equity firm is reportedly in talks with the automaker to buy the parts business. This is a shift in direction for FCA which, in the past, was seemingly focused on spinning off Magneti Marelli rather than completing an outright sale.
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- FreedMike Paging Corey...
- MeJ Seems like every answer here is "no, I don't use my phone while driving except...this, this, and this."C'mon people. Partially guilty is still guilty. Just put the stupid thing away.And, no, I never use my phone while driving. Half the time I just leave it at home because nothing is as important as we like to think it is.
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- Jeanbaptiste Seems pricey.