Fiat Chrysler: towards a split from Magneti Marelli
(CercleFinance.com) - Fiat Chrysler Automobiles (FCA) is jumping 9% in Milan today, after its board of directors announced that it has authorised management to prepare a plan to split from the Magneti Marelli business, as part of its business plan for 2018-2022.
This plan would involve the sale FCA shareholders shares of a new company, which should be finalised by the end of 2018 or early 2019. Magneti Marelli shares would be listed on the Milan Stock Exchange.
This transaction would be subject to the usual regulatory conditions, legal and tax considerations, as well as the final approval of the transaction structure by the board of directors.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
This plan would involve the sale FCA shareholders shares of a new company, which should be finalised by the end of 2018 or early 2019. Magneti Marelli shares would be listed on the Milan Stock Exchange.
This transaction would be subject to the usual regulatory conditions, legal and tax considerations, as well as the final approval of the transaction structure by the board of directors.
Copyright (c) 2018 CercleFinance.com. All rights reserved.