Fiat Chrysler turns down EUR 1bn private equity offer for unit Magneti Marelli – report (translated)
18 SEP 2016
Sergio Marchionne, the CEO of Italian-US listed car manufacturing group Fiat Chrysler [FCAU:US] has turned down a EUR 1bn offer from a private equity firm for car parts subsidiary Magneti Marelli, the Italian language Carlo Festa blog reported.
The unsourced report said Marchionne is against closing a deal with a financial investor and is instead pursuing the search for a strategic investor.
The report said talks are still, therefore, ongoing with listed South Korean industrial group Samsung, even though it appears to be interested in only a part of Magneti Marelli's operations.