Fiat Chrysler Automobiles (FCA) has
agreed to sell its automotive components business Magneti
Marelli to Japanese automotive component supplier Calsonic
Kansei, according to a joint statement released Monday.
It said the agreement represents a transaction value of 6.2
billion euros and will "create one of the leading global
independent automotive components suppliers".
The companies said they agreed to maintain operations in
Italy, as well as current employment levels.
FCA shares soared following the announcement Monday.
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