Magneti Marelli to have 50% stake floated - report (translated)
Magneti Marelli, the car components subsidiary of Italian-US car manufacturer FCA [BIT:FCA], is to have a 50% stake floated on the Italian Stock Exchange, Italian-language daily Il Sole 24 Ore reported. The report cited financial sources who said that the remaining 50% of the company is to be spun off from the main group and its shares assigned to FCA shareholders.
FCA is looking to complete the spin-off and listing in 1H18.
The report noted that FCA is still considering whether to spin off its robotics and automation division Comau. The spin-off of the Maserati and Alfa Romeo luxury car brands would not take place before 2019, the report added.
As previously reported, Magneti Marelli could be worth around EUR 4bn- EUR 5bn