KKR’s Calsonic purchases parts firm Magneti Marelli for $7.1 billion

magneti marelli

Japan’s Calsonic Kansei, owned by U.S. private equity firm KKR, has is set to purchase Fiat Chrysler’s Magneti Marelli for 6.2 billion euros ($7.1 billion) to establish the seventh-largest independent car parts supplier. The first big deal by FCA’s newly-appointed CEO Mike Manley, who took over in July following the sudden death of long-time CEO […]

Marchionne being treated in Zurich’s University Hospital

CEO Sergio Marchionne

Fiat Chrysler CEO Sergio Marchionne was being treated in a Zurich hospital on Sunday with a serious illness as he was suffering complications after shoulder surgery. A Fiat Chrysler spokesman verified Marchionne was in Zurich’s University Hospital, which is among the country’s largest medical centers. The spokesman did not offer details about the CEO’s condition […]

Fiat Chrysler CEO Marchionne could miss second quarter presentation

CEO Sergio Marchionne

Fiat Chrysler CEO Sergio Marchionne, who is currently recovering from a shoulder operation, shall not be present to talk about the company’s second-quarter revenues with experts on July 25, Italian website Lettera43 stated, without mentioning the source of the information. Fiat Chrysler refused to comment. Marchionne underwent an operation to his right shoulder, the automaker […]

Fiat Chrysler CEO says there are no plans to sell brands to Chinese

CEO Sergio Marchionne

Fiat Chrysler Automobiles (FCA) has no intention of separating the company or selling individual brands China or others, the company’s CEO stated on Monday, including that the group was depending on its desired Jeep brand to drive future revenues. “We’re not going to separate anything,” CEO Sergio Marchionne stated at a news conference at the […]

Fiat Chrysler CEO is talking to Hyundai about tech partnership

CEO Sergio Marchionne

Fiat Chrysler Automobiles (FCA) is talking with South Korea’s Hyundai about a technical partnership, though there are no merger talks between the two, FCA CEO Sergio Marchionne stated on Saturday. FCA is frequently the subject of merger speculation, particularly after its unsuccessful 2015 attempt to consolidate larger U.S. competitor General Motors. Its share price leapt […]