Fiat Chrysler: would like more offers for Magneti Marelli

(CercleFinance.com) - In early April, Fiat Chrysler Automobiles (FCA) announced that its board of directors had authorised management to prepare a plan to split the Magneti Marelli business as part of its 2018-2022 business plan.

After receiving an offer from KKR the group believes that its offer is too weak. According to Bloomberg, it is studying other repurchase offers for its equipment maker Magneti Marelli.

KKR has proposed less than 6 billion euros according to Bloomberg, which FCA thinks is a price that represents the bottom of Magneti Marelli's valuation range.

This plan would involve the sale to FCA shareholders shares of a new company, which should be finalised by the end of 2018 or in early 2019. Magneti Marelli shares would then be listed on the Milan Stock Exchange, subject to usual regulatory terms.

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