US duo rev up for Fiat Chrysler's €6.2bn car component business sale
The company is selling its car components business, Magnetti Marelli, to Japanese parts manufacturer Calsonic Kansei
October 22, 2018 at 08:24 AM
2 minute read
US firms Simpson Thacher & Bartlett and Sullivan & Cromwell are advising on the €6.2bn (£5.5bn) sale of Fiat Chrysler Automotive's (FCA) car components business, Magnetti Marelli, to Japanese parts manufacturer Calsonic Kansei.
The new company will operate under the name Magneti Marelli CK Holdings and, according to FCA, will create the world's seventh largest global automotive components supplier, based on total revenues of €15.2bn.
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