Tag Archive | "FCA"

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FIAT / PSA DEAL TO FACE ‘THE MOTHER OF ALL MERGER CONTROL INVESTIGATIONS’


The recently announced plan to merge Fiat Chrysler with PSA Groupe will face ‘the mother of merger control investigations’ according to an an expert in corporate regulation.

Jonathan Branton, Head of Competition at city legal firm DWF Law said: “This is obviously a huge consolidation of the sector that will surely require a considerable effort in securing competition (merger control) across a variety of jurisdictions and especially the European Union”.

“This will take time and will create some uncertainty (although the parties will surely have planned this aspect meticulously). More particularly, this is representative of a general trend towards consolidation and/or cooperation in the sector as it undergoes the transformation that the changeover to electric vehicles is bringing. This is presenting unique challenges that seem set to make this and other projects which bring previously independent players together for different purposes (e.g. R&D) somewhat inevitable.”

The mega deal, announced earlier this week will see the creation of the world’s fourth largest carmaker and will be registered in the Netherlands, a country neutral to all parties.  Unions, including those that represent Vauxhall in the UK, have sought reassurances over job security.

Fiat 500 (2007-2015)

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MAGNETI MARELLI SOLD BY FIAT FOR €6.2bn

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MAGNETI MARELLI SOLD BY FIAT FOR €6.2bn


Italian component manufacturer Magneti Marelli has been sold by Fiat-Chrysler (FCA)  for EU 6.2bn to a Japanese holdings company. 

The new owner is CK Holdings, which is a holding company of component supplier  Calsonic Kansei Corporation.

When the deal closes, CK Holdings will be renamed as Magneti Marelli CK Holdings. The companies say that combined businesses of Calsonic Kansei and Magneti Marelli will create the world’s seventh largest global independent automotive components supplier based on total revenues.

FCA has also agreed to a multi-year supply agreement that will further strengthen a ‘mutually beneficial’ relationship for both Magneti Marelli and the Fiat group’s model range.

The combined company will be led by Beda Bolzenius, currently CEO of Calsonic Kansei, based in Japan. Ermanno Ferr

ari, CEO of Magneti Marelli, will join the Magneti Marelli CK Holdings board.

Mike Manley, CEO of FCA, said: “The combined business will continue to be among FCA’s most important business partners and we would like to see that relationship grow even further in the future. The transaction also recognises the full strategic value of Magneti Marelli and is another important step in our relentless focus on value creation.”

Beda Bolzenius, CEO of Calsonic Kansei, said: “Together, we will benefit from complementary geographic footprints and product lines, while our respective customers will benefit from an increased investment in people, processes and innovative new products.”

Describing the events as ‘transformational’ Ermanno Ferrari, CEO of Magneti Marelli, said: “ This is a moment of great opportunity for all our people to be part of a secure, growing and independent company of considerable scale that can look to the future with energy, ambition and confidence.”

The transition is expected to complete in the first quarter of 2019, subject to the usual approvals.

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