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Fiat Chrysler Offloads Magneti Marelli Parts Unit for $7.1 Billion
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 Vendita: FCA's Magneti Marelli Could Be Sold, Not Spun Off
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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