Fiat Chrysler has agreed to sell Magneti Marelli to Calsonic Chance: Bloomberg
(Reuters) – Fiat Chrysler Automobiles NV ( FCHA.MI ) (FCA) has agreed to sell its Magneti Marelli device to KKRs ( KKR.N ) Calsonic Kansei, Bloomberg reported on Sunday, referring to people with knowledge of the conversations.
A screen shows the ticker information of Fiat Chrysler Automobiles NV on the item where it is traded on the floor of the New York Stock Exchange (NYSE) in New York City, USA, January 1[ads1]2, 2016. REUTERS / Brendan McDermid [19659003] The transaction value may be so much as 6.2 billion euros (7.14 billion dollars) and one announcement is scheduled as early as Monday, according to the report.
Reuters reported in September that the Japanese car manufacturer had lined up around 5 billion euros in funding from Japanese banks to finance its proposed acquisition of Magneti Marelli, which is part of the FCA Component Unit, together with Robot Technician Comau and Castings Company Teksid. [19659003] FCA, Magneti Marelli, Calsonic Kansei and KKR were not immediately available for comment on the report.
($ 1 = 0.8686 euros)
Reporting by Philip George in Bengaluru; Editing Kirsten Donovan
