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Calsonic Kansei and Magneti Marelli join hands to create a independent automotive components supplier

Auto News - Published on Mon, 26 Nov 2018

Image Source: Autocar professional
Fiat Chrysler Automobiles NV announced that it has entered into a definitive agreement to sell its automotive components business Magneti Marelli SpA to CK Holdings Co., Ltd a holding company of Calsonic Kansei Corporation a leading Japanese automotive component supplier. Following the closing of the Transaction, CK Holdings will be renamed as Magneti Marelli CK Holdings*. The combined businesses of Calsonic Kansei and Magneti Marelli will create the world’s 7th largest global independent automotive components supplier based on total revenues.

The agreement represents a transaction value of EUR 6.2 billion. The Transaction is expected to close in the first half of 2019 and is subject to regulatory approvals and other customary closing conditions. The Transaction represents a unique opportunity to combine two successful businesses to create one of the leading global independent automotive components suppliers, with combined revenues of EUR 15.2 billion (JPY 1,975 billion1). The combination is a decisive step towards both companies’ strategic ambition to become a leading globally-diversified tier-one supplier.

The combined company will be well positioned to serve its customers around the world due to its enhanced scale, financial strength and the highly complementary nature of its combined product lines and geographic footprint. The new entity will operate out of nearly 200 facilities and R&D centers across Europe, Japan, the Americas, and Asia Pacific.

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Posted By : Joykumar Irom on Mon, 26 Nov 2018
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