FCA sells Magneti Marelli to Calsonic Kansei

6.2-bn operation with operations to remain in Italy

(ANSA) - Rome, October 22 - 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.
   

ALL RIGHTS RESERVED © Copyright ANSA



Change cookie consent