Fiat Chrysler: disposal of Magneti Marelli

(CercleFinance.com) - The Fiat Chrysler stock is up 5.
6% in Milan today, in demand from investors, following an agreement with Calsonic Kansei to sell its Magneti Marelli automotive equipment business, for a total of 6.2 billion euros.

The combined entity, which will operate under the name of Magneti Marelli CK Holdings, will have total revenues of 15.2 billion euros and will thus be one of the ten largest independent automotive suppliers worldwide.

In this context, the Italian-American car manufacturer will enter into a multi-year supply agreement with this new company, which is committed to maintaining its operations in Italy, as well as its operational headquarters in Corbetta.


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