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.
Head of Simpson Thacher's Tokyo office David Sneider and Hong Kong partner Ian Ho are advising Calsonic Kansei, which is owned by US private equity firm Kohlberg Kravis Roberts (KKR).
Dentons is also advising Calsonic Kansei with a team led by London corporate partners Jayne Schnider and Stephen Levy and including Italian head of corporate Stefano Speroni and Berlin corporate partner Thomas Schubert.
Sullivan & Cromwell is advising FCA, with New York partners Scott Miller and Davis Wang, and London partner Juan Rodriguez, acting for the company. Miller has a longstanding relationship with the company, having represened legacy company Fiat since Sergio Marchionne took over as Fiat's chief executive in 2004. Miller later advised on the merger between Fiat and Chrysler in 2009.
KKR is a longstanding client of Simpson Thacher. Last month, the firm's London office advised the company on the €2.6bn sale of a majority stake in media and comms company United Group with a team led by high yield partner Nick Shaw. London private equity partner Ian Barratt and M&A partner Clare Gaskell also advised the company on its £6.5bn acquisition of Unilever's spreads division in 2017.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Goodwin's Singapore Private Equity Partner Leaves to Join Key Client Hillhouse Investment
Trending Stories
Who Got The Work
J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
Who Got The Work
Rebecca Maller-Stein and Kent A. Yalowitz of Arnold & Porter Kaye Scholer have entered their appearances for Hanaco Venture Capital and its executives, Lior Prosor and David Frankel, in a pending securities lawsuit. The action, filed on Dec. 24 in New York Southern District Court by Zell, Aron & Co. on behalf of Goldeneye Advisors, accuses the defendants of negligently and fraudulently managing the plaintiff's $1 million investment. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:24-cv-09918, Goldeneye Advisors, LLC v. Hanaco Venture Capital, Ltd. et al.
Who Got The Work
Attorneys from A&O Shearman has stepped in as defense counsel for Toronto-Dominion Bank and other defendants in a pending securities class action. The suit, filed Dec. 11 in New York Southern District Court by Bleichmar Fonti & Auld, accuses the defendants of concealing the bank's 'pervasive' deficiencies in regards to its compliance with the Bank Secrecy Act and the quality of its anti-money laundering controls. The case, assigned to U.S. District Judge Arun Subramanian, is 1:24-cv-09445, Gonzalez v. The Toronto-Dominion Bank et al.
Who Got The Work
Crown Castle International, a Pennsylvania company providing shared communications infrastructure, has turned to Luke D. Wolf of Gordon Rees Scully Mansukhani to fend off a pending breach-of-contract lawsuit. The court action, filed Nov. 25 in Michigan Eastern District Court by Hooper Hathaway PC on behalf of The Town Residences LLC, accuses Crown Castle of failing to transfer approximately $30,000 in utility payments from T-Mobile in breach of a roof-top lease and assignment agreement. The case, assigned to U.S. District Judge Susan K. Declercq, is 2:24-cv-13131, The Town Residences LLC v. T-Mobile US, Inc. et al.
Who Got The Work
Wilfred P. Coronato and Daniel M. Schwartz of McCarter & English have stepped in as defense counsel to Electrolux Home Products Inc. in a pending product liability lawsuit. The court action, filed Nov. 26 in New York Eastern District Court by Poulos Lopiccolo PC and Nagel Rice LLP on behalf of David Stern, alleges that the defendant's refrigerators’ drawers and shelving repeatedly break and fall apart within months after purchase. The case, assigned to U.S. District Judge Joan M. Azrack, is 2:24-cv-08204, Stern v. Electrolux Home Products, Inc.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
